Access Bank Plc has said it is recommending a final dividend of 55 kobo per share for the year ended December 31, 2020 to bring the total dividend to 80 kobo, having paid an interim dividend of 25 kobo earlier.
In a statement titled ‘Access Bank promises better performance, higher dividend payment’, the bank said its profit after tax rose by 13 per cent in the period under review.
The Chief Executive Officer, Access Bank, Herbert Wigwe, assured shareholders of sustained healthy dividend payout.
He said given the current position of the bank in the industry, it was well-positioned to achieve significant growth in profitability and pay higher dividend.
Addressing shareholders at the annual general meeting in Lagos, Wigwe said Access Bank had healthy capital adequacy ratio, a robust balance sheet and strong brand that would lead to a better performance in the years ahead, according to the statement.
“Access Bank recorded a profit after tax of N106bn in 2020, up by 13 per cent from N94bn in 2019 and recommended a final dividend of 55 kobo per share for the year ended December 31, 2020 to bring the total dividend to 80 kobo having paid an interim dividend of 25 kobo earlier,” he said.
Wigwe said shareholders should expect better dividend that would be sustain, given the various strategies put to grow the business. According to him, Access Bank was best positioned to maximise the identified opportunities in Africa on the back of a growing customer base and the move to a cashless economy.