FCMB to Pay Shareholders Dividend for FY 2019

By Dipo Olowookere

Shareholders of First City Monument Bank (FCMB) Plc should be expecting the get cash reward from the financial institution for the 2019 fiscal year.

The board of the company dropped this hint when it updated the investing community of outcome of its meeting on Friday, March 6, 2020 in Lagos.

Though the specific amount to be paid was not stated, it said the payment was still subject to the approval of the Central Bank of Nigeria (CBN), which will review the audited financial statements approved by the board at today’s meeting.

During the board meeting, the group’s audited financial statements for the year ended December 31, 2019 was approved and plans made to forward the documents to the apex bank for review before releasing them to the Nigerian Stock Exchange (NSE).

“At the board of directors’ meeting of FCMB Group Plc held on Friday, March 6, 2020 in the boardroom on the 7th Floor of First City Plaza, 44, Marina Street, Lagos, at 11.00am, the board approved the group’s audited financial statements for the year ended December 31, 2019 as well as payment of dividend, subject to the approval of the Central Bank of Nigeria (CBN),” the lender said.

In the disclosure, FCMB also said during the meeting, the board considered and approved the appointment of a non-executive director, subject to CBN approval.

It said details of the results and the dividend payments, as well as related corporate actions shall be made to the exchange upon obtaining approval of the CBN.

The board also appointed the firm of Messrs Delloitte and Touche as its new auditors to replace Messrs KPMG Professional Services, subject to the approval of members at the next Annual General Meeting.