Sterling Bank’s Shareholders Endorse Dividend | Independent Newspapers Limited
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Sterling Bank’s Shareholders Endorse Dividend

Posted: May 4, 2015 at 12:46 am   /   by   /   comments (0)

By Bamidele Ogunwusi Lagos

Shareholders of Sterling Bank Plc at the weekend approved a dividend of 6 kobo for every share of 50 kobo of the bank for the financial year ended December 31, 2014 even as the bank assured of steady growth in profitability and expansion.

The National Coordinator, Independent Shareholders Association of Nigeria (ISAN), Sir Sunny Nwosu, who commended the bank for the dividend pay-out said the shareholders were appreciative of the efforts which the staff and management put in place to drive the bank for increased return on investment.

In the same vein, Chairman, Progressive Shareholders Association of Nigeria (PSAN), Mr. Boniface Okezie also applauded the account performance of the bank.

“The economy where you are operating is tough but you still gave us dividend, this show that the bank has good policy for dividend. The current leadership has proved that it is capable of driving the bank to great height and we commend the bank for the wisdom not to bid for acquisition of nationalized bank,” he said.

Addressing shareholders at the 53rd annual general meeting, Chairman of the company, Mr. Asue Ighodalo,  said the bank is building on a strong platform geared towards improving the lives of young people in the society, whilst also improving the communities in which it operate and environment at large.

“We took deliberate steps to launch bold activities, in the education sector, entrepreneurial schemes, staff volunteering programmes and programmes aimed at improving the environment through partnerships with various state governments. Our bank remains firm in its commitment to the CBN ‘s sustainable banking principles,” he said.