Stanbic IBTC Offers 90 Kobo Interim Dividend | Independent Newspapers Limited
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Stanbic IBTC Offers 90 Kobo Interim Dividend

Posted: Jul 12, 2015 at 12:01 am   /   by   /   comments (0)

By Bamidele Ogunwusi And Gloria Ishaleku, Lagos

Stanbic IBTC on Thursday submitted its half-year financial result ended June 30, 2015 to the management of the Nigerian Stock Exchange (NSE).

Stanbic-IBTC-Bank-PlcIn the result, the board proposed a dividend of 90 kobo per ordinary share of 50 kobo each to its shareholders.

A breakdown of the result showed gross earnings of N68 billion from N61.715 billion reported in the corresponding period of 2014, operating income went down by four per cent from N50.494 billion in 2014 to N48.481 billion, profit before tax went down by 52.2 percent from N19.946 billion to N9.5 billion, while profit after tax stood at N9.7 billion from N16.184 billion, representing a drop of 40.1 per cent.

Loans and advances rose by 23.3 per cent from N350.994 billion to N432.611 billion, total assets rose to N1.033 trillion from N906.838 billion, deposits grew by 14.3 per cent from N554.454 billion to N633.922 billion, while earnings per share dropped by 40.1 per share from 162 kobo to 97 kobo.

Meanwhile, following price losses incurred by blue chip companies, equity transactions on the floor of the Nigerian Stock Exchange (NSE) sustained the downward trend on Thursday, causing market capitalisation to depreciate further by N89.951 billion.

Specifically, market capitalisation of listed equities dropped by 0.82 per cent to N10.844 trillion from N10. 934 trillion traded on Wednesday.

Also the NSE All Share Index fell by 263.5 basis points to 31,768.23 points from 32,031.73 points recorded on Wednesday.

Investors bought and sold 222.059 million shares valued at N4.250 billion in 3,712 deals against 193.966 million shares worth N2.919 billion in 3,325 deals recorded the previous day with the financial services sector accounting for a total of 186.261 million shares valued at N2.261 billion in 2,172 transactions compared with 149.960 million shares valued at N1.490 billion in 1,839 transactions recorded on Wednesday.

On the price movement chart, Forte Oil led with a drop of 974 kobo to close at N185.24 per share, followed by Guinness Nigeria which went down by 731 kobo to close at N138.93 per share, Seplat Petroleum Development Company dropped 489 kobo to close at N330.11 per share, 7UP shed 360 kobo to close at N188.00 per share, while Lafarge Cement WAPCO lost 189 kobo to close at N101.11 per share, among others.