By Aduragbemi Omiyale
Shareholders of the Pan-African banking group, Ecobank Transnational Incorporated (ETI), will have something to cheer about this year as the lender is proposing the payment of $40 million as a dividend for the financial year ended December 31, 2021.
Business Post reports that Ecobank is paying a cash reward of $0.16 per share to shareholders, according to a statement from the Company Secretary, Mr Madibinet Cisse.
“We are pleased to inform our shareholders and the public that the board of ETI, at its meeting of February 25, 2022, approved the Ecobank consolidated audited accounts for the year ended December 31, 2021, subject to relevant regulatory approvals.
“The board also recommended the payment of a dividend of $0.16 per share being a total amount of circa $40 million. The relevant resolutions will be presented for shareholders’ approval at the upcoming Annual General Meeting (AGM) of ETI,” Mr Cisse said.
He further stated that, “The details of the audited accounts will be published upon approval of relevant regulators.
“Consequently, the closed period which commenced from January 1, 2022, will continue until 24 hours after the audited accounts for the year ended December 31, 2021, are released to the stock exchanges on which Ecobank Transnational Incorporated is listed.”
Business Post reports that this is the first time Ecobank shareholders will be receiving dividends since 2016.
