Access Bank Shareholders Approve N14bn Dividend

Yemisi Izuora
Access Bank shareholders have commended the management of the bank for the impressive performance just as they endorsed a N13.73 billion final dividend declared for the 2014 financial year.

The dividend  came to a 35 kobo per share and this is in addition to the interim dividend earlier paid to them, bringing the total dividend paid for the 2014 financial year to 60 kobo per share

The shareholders while making comments at the 26th Annual General Meeting (AGM) in Lagos thursday, noted that in spite of the challenging environment, the bank recorded improved performance.

They also commended the management of Access Bank for keeping the bank’s non-performing loans at lower digit, thereby placing the bank at the fore front of banks that are sound and healthy in the country.

President of the Progressive Shareholders of Nigeria, Mr Boniface Okezie, said the bank needs to be commended for paying 60 kobo dividend despite the rising funds through rights issue, a decision that could make other banks not to pay dividend at all.

The chairman of the bank, Mr Gbenga Oyebode, said that in the
year under review, the bank improved its revenue generation capacity as gross earnings rose to N245 billion from what was recorded in 2013, while profit before tax rose by 20 per cent to N52 billion.

“As we pursue our mission and vision, we are confident that the strategic direction we have chosen is sound. We will maintain our strong capital and liquidity, managing risk effectively and operating efficiently to reduce costs,” Oyebode stated.

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