Dangote Cement pays over N3.3trn in dividends to shareholders in 15 years - ITREALMS

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... Vows to transform Africa by making it self-sufficient in cement, clinker

Shareholders of Dangote Cement Plc have received over N3.3 trillion in dividends over the last 15 years. Aside from this impressive dividend payout, the shareholders have also significantly benefited from the capital appreciation of the cement stock.

The benefits to the shareholders were disclosed on the floor of the Nigerian Exchange last Wednesday during the “Facts Behind the Figure” presentation, by the Management and Board of Dangote Cement, which was ably led by the new Chairman, Mr. Emmanuel Ikazoboh.

NASCON grows turnover by 37%, assures shareholders of continuous growth, value creation - ITREALMS

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The NASCON Allied Industries Plc, has grown turnover by 37%, and assured shareholders of continuous growth as well as value creation in 2024. 

The company gave the assurance at its 2023 Annual General Meeting (AGM) held Thursday in Lagos.

11th AGM: FBNHoldings reassures shareholders - ITREALMS

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The 11th Annual General Meeting (AGM) of FBN Holdings Plc (FBNHoldings), the parent company of Nigeria’s premier financial inclusion services provider, FirstBank, was held on Tuesday, 15 August 2023. 

The virtual AGM was presided over by Alhaji Ahmad Abdullahi, the Group Chairman with shareholders, directors, management staff and other stakeholders in attendance.

Zenith Bank excites shareholders with N87.9bn dividend payout - ITREALMS

ITREALMS: 

The shareholders of Zenith Bank Plc were excited during the 29th Annual General Meeting of the Bank held Monday, at the Shehu Musa Yaradua Centre, Abuja as they unanimously approved the proposed final dividend of N2.50 per share, bringing the total dividend payment for the 2019 financial year to N2.80 per share with a total value of N87.9 billion, reports ITREALMS.

This followed the recent release of the Bank’s audited financial results for the 2019 financial year.

According to the audited financial results for the 2019 financial year, Zenith Bank recorded a profit after tax (PAT) of N208.8 billion, an increase of 8% from the N193 billion recorded in the previous year, thus achieving the feat as the first Nigerian Bank to cross the N200 billion mark.

The Group also recorded a growth in gross earnings of 5% rising to N662.3 billion from N630.3 billion reported in the previous year. This growth was driven by the 29% increase in non-interest income from N179.9 billion in 2018 to N231.1 billion in 2019. Fees on electronic products continue to grow significantly with a 108% Year on Year (Y-o-Y) growth from N20.4 billion in 2018 to N42.5 billion in the current year. This is a validation of the bank’s retail transformation strategy which continues to deliver impressive results.

Profit before tax also increased by 5% growing from N232 billion to N243 billion in the current year, arising from topline growth and continued focus on cost optimisation strategies. Cost-to-income ratio moderated from 49.3% to 48.8%.

The drive for cheaper retail deposits coupled with the low-interest yield environment helped reduce the cost of funding from 3.1% to 3.0%. However, this also affected net interest margin, which reduced from 8.9% to 8.2% in the current year due to re-pricing of interest-bearing assets. Although returns on equity and assets held steady YoY at 23.8% and 3.4% respectively, the Group still delivered an improved Earnings per Share (EPS) which grew 8% from N6.15 to N6.65 in the current year.

The Group increased its share of the market as it secured increased customer deposits across the corporate and retail space as deposits grew by 15% to close at N4.26 trillion. Total assets also increased by 7% from N5.96 trillion to N6.35 trillion. The Group created new viable risk assets as gross loans grew by 22% from N2.016 trillion to N2.462 trillion. This was executed prudently at a low cost of risk of 1.1% and a significant reduction in the non-performing loan ratio from 4.98% to 4.30%. Prudential ratios such as liquidity and capital adequacy ratios also remained above regulatory thresholds at 57.3% and 22.0% respectively.

In recognition of its track record of excellent performance, Zenith Bank was voted as the Best Commercial Bank in Nigeria 2019 by the World Finance and the Best Digital Bank in Nigeria 2019 by Agusto & Co. The Bank was also recognised as Bank of the Year and Best Bank in Retail Banking at the 2019 BusinessDay Banks and Other Financial Institutions (BOFI) Awards. Most recently, the Bank emerged as the Most Valuable Banking Brand in Nigeria, for the third consecutive year, in the recently released Banker Magazine “Top 500 Banking Brands 2020”, the Best Bank in Nigeria 2020 in the Global Finance World’s Best Banks Awards 2020, and the Bank of the Decade (People’s Choice) at the Thisday Awards 2020.

Nenye Dom/Editor

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Ecobank shareholders approve all resolutions @2018 AGM

ITREALMS: The parent of Ecobank Group, Ecobank Transnational Incorporated, with operations in 36 countries across the African continent, has concluded its 30th Annual General Meeting in Lomé, Togo, Wednesday with shareholders approving all the resolutions, reports ITRealms. Shareholders welcomed Ecobank’s return to profit for the year to 31 December 2017 as they approved all the resolutions at the AGM, which included the ratification of the co-option of Messrs. Monish Dutt, Brian Kennedy and David O’Sullivan as Directors. They are nominees of the International Finance Corporation, Nedbank Group and Qatar National Bank respectively. The firms Deloitte and Touche, Nigeria and Grant Thornton Côte d’Ivoire were re-appointed as Joint Auditors for a one-year term. Ecobank Group Chairman Emmanuel Ikazoboh said: “Ecobank enjoyed a return to profitability in 2017 as the strengthening of underwriting and risk management processes began to address our legacy credit issues. There were substantial improvements in the financial performance of our Consumer Bank and Corporate and Investment Bank divisions and the Board is confident that the foundations are now in place to enable the sustainable growth that will create shareholder value throughout Ecobank.” Ade Ayeyemi, Group Chief Executive of Ecobank Group, said: “Our digitisation strategy is rapidly yielding results that are putting Ecobank firmly on its path to becoming the digital bank of choice across its pan-African territories. Additionally, having ‘right-sized’ the business and ‘fixed the basics’, Ecobank is leveraging its inherent strengths as middle Africa’s leading financial platform to the benefit of all its stakeholders as a strong and sustainable bank as it promotes economic development and financial integration across the African continent.”

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Shareholders approve InterBreweries, Intafact, Pabod merger

ITRealms:

The shareholders of International Breweries (INTBREW) Plc, Intafact Beverages Limited and Pabod Breweries Limited have approved resolutions authorizing the merger of the three companies, reports ITRealms.

Shareholder approvals, ITRealms gathered, were granted during separate court ordered meetings of each of the Merging Entities which held on Wednesday 18 and Thursday 19 October 2017.

Prior to the approval by the shareholders of the Merging Entities, ITRealms also gathered, requisite pre-merger approvals had been received from the Securities and Exchange Commission (SEC) and the Nigerian Stock Exchange (NSE).

ITRealms reports that with the shareholder approvals in place, the SEC and NSE will now be re-approached for their final approvals, to be followed with an application to the Federal High Court to sanction the merger, after which, the merger becomes effective. 

FCMB Capital Markets Limited and Odujinrin & Adefulu are advisers to International Breweries Plc while Stanbic IBTC Capital Limited and Udo Udoma & Belo-Osagie serving as advisers to Intafact Beverages Ltd and Pabod Breweries Ltd.

Chairman of the Board of International Breweries Plc, Sunday Akintoye Omole said they are of the opinion that the merger will create a platform where significant synergies can be obtained for the benefit of “our shareholders, employees, customers, distributors, suppliers and the economy as a whole.”

Commenting on the merger, His Majesty, Nnaemeka Alfred Achebe, Chairman of the Board of Intafact Beverages Ltd said “It is envisaged that the merger will be beneficial to all stakeholders involved, while providing the new entity with an extremely compelling economic opportunity.”

Gustav Wilhemus Van Heerden Chairman of the Board of Directors of Pabod Breweries Limited said the merger will “improve, and expand growth prospects for the new entity and will also maximize value for all stakeholders.”

International Breweries Plc commenced production with the launch of its flagship product, Trophy Lager in December 1978. The company now produces Beta Malt as well as Castle Milk Stout, Castle Lager, Redds, Hero Lager, 1960 Rootz and Grand Malt which are produced and sold under co-packaging and franchise agreements.

Intafact Beverages Limited was first incorporated in February 2007. The company’s principal activities include the manufacturing, distribution and sale of a variety of beverages such as Hero Lager, as well as Eagle Lager, Trophy Lager, Castle Milk Stout, Grand Malt, Beta Malt, Chibuku, 1960 Rootz, Redds and Super Shake Yogurt drinks.

Pabod Breweries Limited was incorporated in 1978 under the leadership of His Excellency Melford Okilo. The company’s principal activities include the manufacturing, distribution and sale of a variety of beverages and its brands include its flagship product Grand Malt, as well as Castle Milk Stout, Eagle Lager, Hero Lager, Trophy Lager, Beta Malt, Redds and 1960 Rootz which are produced and sold under co-packaging and franchise agreements.

Combined, the three companies, which are subsidiaries of AB InBev, will be one of the biggest beverage manufacturing and distribution companies in Africa, based on installed production capacity. 

Nonye Dom/GEE

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Zenith Bank shareholders approve total payout of N63.4b dividend

ITRealms:

The shareholders of Zenith Bank Plc have approved final dividend worth N55.573 billion for the year ended December 31, 2016, which brings the total payout to N63.422 billion, reports ITRealms.

The dividend, ITRealms gathered, translates to N1.77 per share, was paid out of N129.65 billion recorded for the year under review.

Giving the approval at the Annual General Meeting held in Lagos on Wednesday, shareholders noted that in all, the bank paid a total dividend of N63.422 billion, having paid an interim dividend of N7.849 billion before now.

Also, the shareholders applauded the board, management and staff for growing its profit after tax by 23 per cent from N105.531 billion in 2015 to N129.65 billion in 2016. Just as the bank ended the year with gross total assets N4.739 trillion, up from N4 trillion in 2015.

The Chairman of the Zenith Bank Plc, Chief Jim Ovia, said despite the challenging operating environment, the bank was able to fully exploit the available opportunities to post the impressive results.

He pointed out that in line with the bank’s commitment to delivering superior returns to its much-valued shareholders, the bank made certain that a good chunk of the profit is set aside for them.

“In this regard, we have declared and paid you an interim dividend of 25 kobo per share in the course of 2016 financial year. We hereby propose a final dividend of 177 kobo per share. This brings the total dividend for the year ended December 31, 2016 to 202 kobo per share as against 180 kobo per share paid he previous year,” he said.

Ovia also said, that even in the face of a very challenging operating environment, Zenith Bank has maintained its culture of outstanding performance and industry leadership.

As a bank, Ovia emphasized, Zenith is monitoring developments both in the local and global economy and applying pragmatism and dynamism as appropriate.

“Our strategy and approach to the pursuit of financial inclusion and sustainability gives us a lot of competitive advantage to explore even new frontiers in the market,” he said.

Equally speaking, the Group Managing Director and Chief Executive Officer of Zenith Bank, Mr. Peter Amangbo, said as an institution of well-primed people, the bank relied on a its pool of exceptional staff to make sound and timely decision and addressed issues in a manner that anticipated developments and demonstrated excellent understanding of the dynamics of the market and economy in 2016.

“We shall continue to demonstrate extraordinary commitment to our customer s while maintaining focus on all the areas fundamental to adding value to our partnership,” he said, even as he looks ahead with optimism, though noting that 2017 will come with its challenges and opportunities.

“… But I am confident that our determination, resolve and rare commitment to customer as well as our adaptive ability will ensure resounding results” Amangbo said.

Chuks Egbune/GEE

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