By Dipo Olowookere
The share price of FBN Holdings Plc was adjusted to N4.30 per unit on Tuesday, April 21, 2020 from N4.70 each it closed on Monday, April 20, 2020.
The reason for this adjustment was because of the 38 kobo dividend recommended by the board of directors of the company for the year ended December 31, 2019.
Yesterday was the qualification date for the cash reward proposed by the board for payment to shareholders of FBN Holdings later this month.
In a notice to stockbrokers this morning, the Nigerian Stock Exchange (NSE) said, “The equity price of FBN Holdings Plc was adjusted today, April 21, 2020 for a dividend of N0.38k as recommended by the company’s board of directors.
“The last close price was N4.70, while the Ex-div price is N4.32. The price was rounded down by the system to N4.30 in conformity with the price step methodology.”
Business Post reports that register of members of FBN Holdings will be closed from today, Tuesday, April 21 to Wednesday, April 22, 2020.
The Annual General Meeting (AGM) of the firm has been scheduled to take place on Monday, April 27, 2020 at Oriental Hotel, Lagos by 10am.
In its FY 2019 earnings, FBN Holdings grew its gross earnings to N627.0 billion from N587.4 billion, while the interest income rose to N442.6 billion from N435.6 billion, with the interest expense increasing to N152.3 billion from N150.2 billion, leaving the firm with a net interest income of N290.2 billion in FY19 compared with N285.3 billion in FY18.
During the period, it recorded an operating profit of N83.5 billion as against N63.9 billion in the previous year.
The profit before tax stood at N83.6 billion in FY19 compared with N63.9 billion, while the profit after tax rose to N73.7 billion from N58.2 billion.
As at the time of filing this report, share price of FBN Holdings at the stock exchange was down by 10 kobo, selling at N4.20 per unit.
Adedapo Adesanya 
Aduragbemi Omiyale