See more as GTCO shareholders approve N8.03 dividend payout after strong financial performance

• GTCO shareholders person approved a full dividend payout of N8.03 per stock pursuing a beardown fiscal show successful the 2024 fiscal year
• The institution recorded an awesome show successful 2024, closing the twelvemonth with a historical profit
• Hezekiah Sola Oyinlola, GTCO’s outgoing Group Chairman, shared the info successful the company's caller yearly wide meeting

Legit.ng writer Dave Ibemere has implicit a decennary of concern journalism acquisition with in-depth cognition of the Nigerian economy, stocks, and wide marketplace trends

Guaranty Trust Holding Company (GTCO) Plc, the genitor institution of GTbank, has announced that Shareholders person approved a full dividend payout of N8.03 per stock for the fiscal twelvemonth ended December 31, 2024.

The fiscal institution achieved a record-breaking show successful 2024 that saw it go the archetypal Nigerian slope to surpass N1 trillion successful nett earlier tax.

GTBank recorded implicit N1 trillion PAT successful 2024 Photo credit: Nurphoto
Source: Getty Images

The support was fixed astatine the group’s 4th Annual General Meeting (AGM), held virtually connected Thursday, April 24.

GTCO dividend payments

The institution had earlier paid an interim dividend of N1.00 per share, with shareholders present acceptable to person a last dividend of N7.03 per share, bringing the full dividend to N8.03 for the year.

In his code astatine the AGM, Hezekiah Sola Oyinlola, GTCO’s outgoing Group Chairman, hailed the company’s resilience and innovation successful the look of economical headwinds, The Nation reported.

He said:

“In 2024, we became the archetypal Nigerian slope to surpass the N1 trillion nett mark, an accomplishment that underscores the resilience of our concern model, the dedication of our people, and the spot our customers spot successful us."

Oyinlola credited GTCO’s show to its operational excellence, disciplined hazard management, and customer-centric innovation.

He noted the group’s strategical diversification into payments, plus management, and pension money medication had besides enhanced gross generation.

Segun Agbaje, Group Chief Executive Officer of GTCO, described 2024 arsenic a “historic milestone year,” citing the N1 trillion pre-tax nett and beardown maturation crossed its Nigerian and planetary banking subsidiaries.

Agbaje said the radical navigated a volatile regulatory and macroeconomic scenery portion strengthening its fiscal footing and work delivery, BusinessDay reports.

GTBank is simply a starring fiscal instauration and a subsidiary of GTCO Photo credit: Nurphoto
Source: Facebook

GTCO gets caller chairman

At the AGM, GTCO besides announced the assignment of Suleiman Barau arsenic its caller Group Chairman, taxable to regulatory approval.

Barau, a erstwhile Deputy Governor of the Central Bank of Nigeria, has extended acquisition successful the fiscal sector.

Having been a pioneering manager of GTCO since its restructuring, his enactment is expected to usher the institution done its next signifier of maturation and innovation.

The company’s existent chairman, Hezekiah Oyinlola, expressed assurance successful Barau’s quality to pb the institution to caller heights, citing his strategical penetration and proven enactment way record.

GTbank among banks with highest net from fees, commissions

Ealier, Legit.ng reported that 9 Nigerian banks earned astir N2.59 trillion in fees and committee gross in 2024.

Fees and committee income are gross earned from assorted fees and commissions charged for services to customers.

They see charges for relationship maintenance, transaction fees, and fees regarding recognition paper purchases, integer banking, and different fiscal services.

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Source: Legit.ng