FCMB rewards shareholders with 50 kobo dividend.
October 9th, 2008 Ikechukwu Emelike || ikechukwu@stockmarketnigeria.com
The board of directors of First City Monument Bank plc has approved the payment of 50 kobo per share to investors whose names appear in its register as at September 19, 2008 when it closed as dividend payout for its financial year ended April 30, 2008.
The 50 kobo dividend which will amount to N 8.1 billion is a 43 percent increase over the 35 kobo which it paid in its 2007 financial year.
A comparative breakdown of the results revealed that it posted a gross earning of N52.82 billion which represented a 112 percent increase over the N24.97 billion recorded in 2007. Profit before tax grew by 171 percent from N7.57 billion in 2007 to N20.59 billion in 2008.
Profit after tax stood at N15.091 billion as compared to N5.948 billion in 2007 showing a 154 percent growth.
The bank would commence the dispatch of dividend warrants from the 14th of October 2008.
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