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Economy

FCMB Dividend Rises 7% as FY 2020 Profit Jumps to N19.6bn

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FCMB dividend

By Dipo Olowookere

The board of FCMB Holdings Plc has increased the dividend payment for the 2020 financial year, the company’s audited results have revealed.

The lender wants to pay a final dividend of 15 kobo to shareholders, 7.14 per cent or one kobo higher than the 14 kobo paid in the previous accounting year.

On Friday, in a notice, it was stated that the FCMB dividend would be paid to shareholders whose names appear on the register of members as at the close of business on Thursday, April 8, 2021, will receive the cash reward on April 21, 2021, after it has been approved at the Annual General Meeting (AGM) fixed for the same day at First City Plaza in Marina, Lagos at 11.00am.

Business Post reports that in the year under review, the company grew its gross earnings to N199.4 billion from N181.3 billion, while the interest income increased to N151.0 billion from N137.5 billion, with the interest expense at N60.3 billion versus N61.5 billion in 2019 and the net interest income at N90.8 billion as against N76.0 billion a year earlier.

In the results, the bank said its fee and commission income slightly moved up to N30.2 billion from N29.7 billion, while the fee and commission expense was N10.6 billion in contrast to N9.0 billion in 2019, with the net fee and commission income at N19.6 billion compared with N20.7 billion.

FCMB said it recorded a net trading income of N7.1 billion versus N6.9 billion, while its personnel costs stood at N29.5 billion in contrast to N29.6 billion in 2019, with the general and administrative expenses reducing to N30.5 billion from N31.9 billion the previous year.

With other operating expenses gulping N16.8 billion in contrast to N8.7 billion in the corresponding period of 2019, the profit before tax of the firm closed at N21.9 billion compared with N20.1 billion, while the profit after tax increased to N19.6 billion from N17.3 billion.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via [email protected]

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Economy

SEC Postpones Q2 2026 Pre-registration Training, Examination for CMOs

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capital market operators

By Aduragbemi Omiyale

The pre-registration training and examination for capital market operators (CMOs) for the second quarter of 2026 has been postponed.

Business Post gathered that the new date for the exercise is now Monday, June 15, 2026.

This information was disclosed by the Securities and Exchange Commission (SEC) through a circular on Monday, June 8, 2026.

The Nigerian capital market regulator stated that this postponement has also resulted in the extension of the deadline for registration to Friday, June 12, 2026.

In the notice today, the SEC expressed its regret for the inconvenience this action may cause operators, who had prepared for the initial date of the training and examination.

“Further to the recent circular on Q2 2026 Pre-registration Training and Examination, the Securities and Exchange Commission (SEC) hereby informs all eligible applicants for the Q2 2026 Pre-registration Training and Examination that the commencement date has been postponed to Monday, June 15, 2026.

“Registration on the designated portal has also been extended to Friday, June 12, 2026. All other conditions contained in the circular remain unchanged.

“The commission regrets any inconvenience this postponement may cause and appreciates the understanding of all applicants,” the disclosure noted.

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Economy

Fidson Lists Additional 600 million Shares on Stock Exchange

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fidson

By Aduragbemi Omiyale

One of the leading healthcare firms in Nigeria, Fidson Healthcare Plc, has listed additional shares on the Nigerian Exchange (NGX) Limited.

The new stocks absorbed into the stock market were 600 million units, raising the total issued and fully paid-up shares of Fidson to 3,000,000,000 ordinary shares of 50 Kobo each from 2,400,000,000 ordinary shares of 50 Kobo each.

The fresh equities came from the company’s rights issue of 600,000,000 ordinary shares of 50 Kobo each at N35.00 per share.

They were issued to existing investors on the basis of one new ordinary share for every existing four ordinary shares held as of the close of business on Wednesday, November 12, 2025.

Confirming the development, the regulator in a notice said, “Trading licence holders are hereby notified that an additional 600,000,000 ordinary shares of 50 Kobo each of Fidson Healthcare Plc were on Tuesday, June 2, 2026, listed on the daily official list of Nigerian Exchange Limited.

“The additional shares arose from the company’s rights issue of 600,000,000 ordinary shares of 50 Kobo each at N35.00 per share on the basis of one new ordinary share for every existing four ordinary shares held as at the close of business on Wednesday, November 12, 2025.

“With the listing of the additional 600,000,000 ordinary shares, the total issued and fully paid-up shares of Fidson Healthcare Plc have now increased from 2,400,000,000 to 3,000,000,000 ordinary shares of 50 Kobo each.”

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Economy

FG Approves Payments to 1,240 Contractors to Ease Liquidity Pressure

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FG contractors protest

By Modupe Gbadeyanka

This news will surely excite local contractors with verified claims of N100 million or less, as the federal government has approved their payments.

This approval for the disbursement was given by the Minister of Finance and Coordinating Minister of the Economy, Mr Taiwo Oyedele.

This followed a verification and reconciliation exercise designed to ensure only validated claims qualify for payment.

The beneficiaries cover contractors across multiple ministries, departments and agencies. The release of the funds is expected to enable contractors to return to project sites, pay workers, settle suppliers and meet outstanding financial commitments.

In an announcement on Monday, the Federal Ministry of Finance also said this latest batch of payments would ease liquidity pressure on small businesses and accelerate economic activity nationwide.

It was noted that the payments for verified claims of N100 million below were strategically done to spread economic impact broadly rather than concentrate disbursements among a handful of large firms.

The payments form part of a broader push to clear inherited contractor obligations, with over N700 billion verified in recent months.

“For many beneficiaries, the release of funds represents more than a financial transaction. It provides the certainty needed to sustain operations, preserve jobs, complete ongoing projects, and contribute to economic recovery and growth,” the ministry said in a statement.

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