Investors of Guaranty Trust Holding Company (GTCO) Plc, have endorsed the payment of N91.236 billion dividend, culminating to N3.10 per share for the 2022 financial year.
The Group had in June 2022 declared a final dividend of N2.80 per unit of ordinary share held to shareholders, in addition to the interim dividend of 30 kobo, bringing the total dividend for 2022 to N3.10 kobo.
At the company’s 2022 yearly general meeting held in Lagos at the weekend, the shareholders applauded the bank for increasing their value on investment through dividend payout amid harsh operating environment.
Specifically, the immediate past President of Nigeria Shareholders Solidarity Association, Chief Timothy Adesiyan noted that the Group has contributed to the growth of the economy by taking leadership position its lending to real sector, especially in agriculture and support for SME’s growth as seen in its various award during the period.
He urged the management to ensure that the bank stays ahead of trends in the industry to improve on its achievements.
Chairman of GTCO, Hezekiah Oyinlola said the bank completed the setup of its holding company and acquired full ownership of Investment One Pension Managers and Investment One Fund Managers, now named Guaranty Trust Pension Managers and Guaranty Trust Fund Managers, respectively.
According to him, its payment subsidiary, HabariPay Limited, also launched in 2022 and introduced its flagship product Squad to the market with outstanding reviews.
Oyinlola pointed out that these newly created businesses – in payments, fund managers, and pensions ran successfully made profit by the end of the year.
On the bank’s outlook, Oyinlola assured that with the momentum built-up in recent years, the bank is well positioned to leverage every opportunity to boost its financial performance.
He said the bank’s diversified business model and agile systems will enable it to adapt quickly to changing market conditions and turn economic tides in its favour, assuring that the bank’s customer, centricity, focus on innovation and long-term value-creation will continue to be key drivers of its success in the years ahead.
Group Chief Executive Officer of the bank, Segun Agbaje, said the Group delivered a pre-tax profit of N214.2 billion representing a dip of 3.0 per cent from N221.5 billion posted in full year, 2022 while profit before tax contribution from West Africa decreased from 21.0 per cent in 2021 to 12.3 per cent in 2022.
He also noted that the size of the Nigerian banking subsidiary during the same period increased to 84.3 per cent from 79.5 per cent, while East Africa’s contribution to the Group grew marginally to 3.4 per cent from 3.0 per cent.
He said the group also benefited from 0.9 per cent contribution from the non-banking subsidiaries which compensated for the negative 0.8 per cent contribution from the United Kingdom in FY-2022 while gross earnings increased by 20.4 per cent to N539.2 billion from N447.8 billion in 2021.
He added that the new holding structure will prove to be a propeller in its journey towards sustained growth and success.
“We will also continue to dominate the financial services sector, not just because we will continue to pursue technological advancements and digital capabilities that keep us ahead of the curve, but because we will always stay true to the values of hard work, transparency, integrity and putting our customers at the heart of everything that we do.”
The Group had in June 2022 declared a final dividend of N2.80 per unit of ordinary share held to shareholders, in addition to the interim dividend of 30 kobo, bringing the total dividend for 2022 to N3.10 kobo.
At the company’s 2022 yearly general meeting held in Lagos at the weekend, the shareholders applauded the bank for increasing their value on investment through dividend payout amid harsh operating environment.
Specifically, the immediate past President of Nigeria Shareholders Solidarity Association, Chief Timothy Adesiyan noted that the Group has contributed to the growth of the economy by taking leadership position its lending to real sector, especially in agriculture and support for SME’s growth as seen in its various award during the period.
He urged the management to ensure that the bank stays ahead of trends in the industry to improve on its achievements.
Chairman of GTCO, Hezekiah Oyinlola said the bank completed the setup of its holding company and acquired full ownership of Investment One Pension Managers and Investment One Fund Managers, now named Guaranty Trust Pension Managers and Guaranty Trust Fund Managers, respectively.
According to him, its payment subsidiary, HabariPay Limited, also launched in 2022 and introduced its flagship product Squad to the market with outstanding reviews.
Oyinlola pointed out that these newly created businesses – in payments, fund managers, and pensions ran successfully made profit by the end of the year.
On the bank’s outlook, Oyinlola assured that with the momentum built-up in recent years, the bank is well positioned to leverage every opportunity to boost its financial performance.
He said the bank’s diversified business model and agile systems will enable it to adapt quickly to changing market conditions and turn economic tides in its favour, assuring that the bank’s customer, centricity, focus on innovation and long-term value-creation will continue to be key drivers of its success in the years ahead.
Group Chief Executive Officer of the bank, Segun Agbaje, said the Group delivered a pre-tax profit of N214.2 billion representing a dip of 3.0 per cent from N221.5 billion posted in full year, 2022 while profit before tax contribution from West Africa decreased from 21.0 per cent in 2021 to 12.3 per cent in 2022.
He also noted that the size of the Nigerian banking subsidiary during the same period increased to 84.3 per cent from 79.5 per cent, while East Africa’s contribution to the Group grew marginally to 3.4 per cent from 3.0 per cent.
He said the group also benefited from 0.9 per cent contribution from the non-banking subsidiaries which compensated for the negative 0.8 per cent contribution from the United Kingdom in FY-2022 while gross earnings increased by 20.4 per cent to N539.2 billion from N447.8 billion in 2021.
He added that the new holding structure will prove to be a propeller in its journey towards sustained growth and success.
“We will also continue to dominate the financial services sector, not just because we will continue to pursue technological advancements and digital capabilities that keep us ahead of the curve, but because we will always stay true to the values of hard work, transparency, integrity and putting our customers at the heart of everything that we do.”
