FIDELITY Bank Plc has proposed a dividend of N4.6 billion for its shareholders for the financial year ended December 31, 2015.
The dividend, which amounts to 16 kobo per share, was contained on the lender’s corporate action released to the Nigerian Stock Exchange, NSE, following its full year 2015 financial report.
According to the lender’s audited financial statements for the period under review, Fidelity Bank posted a rise of 7.9 per cent and 0.8 per cent in its gross earnings and profit respectively.
The bank’s gross earnings for the period ended December 31, 2015 grew to N146.9 billion from N136.1 billion recorded in 2014 Financial Year (FY), while Profit after Tax (PAT) for the period ended December 31, 2015, rose marginally to N13.9 billion as against N13.8 billion made in the comparable period last year. Whereas total equity increased by 6.0 per cent to N183.5 billion from N173.1 billion in 2014 FY, net operating income stood at N83.9 billion, a moderate 12.5 per cent rise from N74.6 billion in 2014 FY.
Commenting on the result, Chief Executive Officer, Fidelity Bank Plc, Nnamdi Okonkwo, said that the bank’s 2015 FY performance reflects the disciplined execution of the management’s medium term strategy and the resilience of evolving business models despite the extremely challenging business environment in 2015.