Access Bank reduces Unclaimed Dividends by 78% in 2012
This came on the heels of declaration by the Securities and Exchange Commission, SEC, that the value of unclaimed dividends as at the end of 2012 is N60 billion.
Access Bank, according to its annual reports and accounts for the 2012 financial year, presented to shareholders at its Annual General Meeting, in Lagos, said the value of the unclaimed dividend dropped by N2.46 billion to N687.67 million at the end of the 2012 financial year, from N3.148 billion recorded in the 2011 financial year.
The bank declared a total dividend of 85 kobo per share, broken down into interim dividend of 25 kobo per share and a final dividend of 60 kobo per share.
The bank recorded profit before tax of N44.9 billion, rising by 86.3 per cent from N24.1 billion recorded in 2011, while its profit after tax appreciated by 150.9 per cent to N42.9 billion from N17.1 billion in 2011.
Commenting on the result, Mr. Gbenga Oyebode, Chairman, Access Bank, said, “in 2012, your bank made clear progress on a number of strategic fronts towards ensuring sustainable growth in revenue, profitability and shareholder value.
“The successful acquisition of Intercontinental Bank in 2011 has enabled us to create one of Nigeria’s largest banking groups..”
The outgoing Managing Director/Chief Executive officer of the bank, Mr. Aigboje Aig-Imoukhuede assured shareholders that the bank has in place a strong succession plan, expressing confidence that the growth currently seen in the bank will be sustained and surpassed by the incoming executive.
Aig-Imoukhuede, who is to step down in the next couple of months, thanked the bank’s shareholders and other stakeholders for their support over the years, saying, “I am clear that the company I run today will be far greater in all parameters tomorrow.”
Vanguard
