Guaranty Trust Bank doubles share dividend at AGM

by Richard Kilner

Story link: Guaranty Trust Bank doubles share dividend at AGM

The 18th annual general meeting of the Guaranty Trust Bank (GTB) has been held at the Eko Hotel’s Expo Hall in Victoria Island Lagos.

Shareholders continued to show their support for the bank and its future targets, most notably the aim of becoming Nigeria’s premier banking institution.

At the gathering, the GTB’s board gave their approval to a 95 kobo per share full year dividend for the 2007/2008 financial year, a move that was heartily welcomed by the assembled shareholders.

The dividend led to the total payout more than doubling from the previous financial year, soaring from N6bn to N12.9bn.

In addition the bank also issued new shares to existing stakeholders, with 1 being given for every 11 currently held, increasing the total number of shares from 13.7bn to 14.9bn.

Guaranty Trust Bank Gambia Limited has become the most swiftly expanding institution in the Gambia, with a sixth branch opening recently.

Elsewhere, GTB’s business in Sierra Leone and Ghana continued to grow with new branches being opened in both countries.