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FBN Holdings shareholders to share N14.3bn dividend for FY 2023

Shareholders of FBN Holdings Plc. will receive a total dividend of N14.35 billion for the financial year ended December 2023, representing a total dividend of 40 kobo per share declared by the group.  

This was contained in the company’s corporate action announcement to the Nigerian Exchange Limited (NGX).

The company also recently released its 2023 full year results after a prolonged period of delay due to regulatory approvals.

The board of directors of the holding company recommended a dividend of 40 kobo per ordinary share of 50 kobo each, amounting to N14.358 billion.

Recall that the company also paid its shareholders a 40 kobo dividend in 2022.

The group reported a profit after tax of N310.4 billion, a significant increase from the N136.3 billion reported for the same period in 2022. This marks the highest profit ever declared by the financial services giant in its more than 130-year history. 

Net Interest Income rose to N548.9 billion, marking a 51% increase from N363.2 billion in the previous year. 

The company also released its 2024 first quarter results showing a pre-tax profit of N238.5 billion representing a 310% increase year-on-year.