Business News

FBN Holdings Plc declares 40 kobo dividend per share for FY 2023  

Shareholders of FBN Holdings Plc will receive a total dividend of N14.35 billion for the financial year ended December 2023, representing a total dividend of 40 kobo per share declared by the group.  

This was contained in the company’s corporate action announcement to the Nigerian Exchange Limited (NGX) and obtained by the Naijaonpoint. 

The company also recently released its 2023 full year results after a prolonged period of delay due to regulatory approvals.

The group reported a profit after tax of N310.4 billion, a significant increase from the N136.3 billion reported for the same period in 2022. This marks the highest profit ever declared by the financial services giant in its more than 130-year history. 

The company also released its 2024 first quarter results showing a pre-tax profit of N238.5 billion representing a 310% increase year on year. 

What you should know: The bank reported the dividend will be paid to shareholders who appear on its register as of August 13 2024 whilst the actual dividend will be paid a few days later on August 23rd 2024. The company did not declare any bonus shares.

FBNH closed trading on Friday, May 24, 2024 at N20.45 per share on the Nigerian Stock Exchange (NGX), recording a 9.3% drop from its previous closing price of 22.55 NGN.

The financial institution began the year with a share price of N23.55 but has since lost 13.2% off the price valuation.