Lagos - Shareholders of Zenith Bank Plc stocks may soon be smiling to the bank, if the forthcoming Zenith bank’s dividend payout of as much as N1.70 per share for the current financial year, is carried out.
Zenith Bank Plc has officially announced a change in its financial year end from June 30 to September 30, starting from this year, in what the bank described as a bid to further enhance shareholder value. The bank which normally operated a July to June financial year, recently released its twelve-month result showing “remarkable improvements” on all parameters.
London - Another Nigerian-owned bank, Access Bank Plc, is set for another major milestone in its global expansion drive following its licensing and authorization by the Financial Services Authorities (FSA) to operate a full service banking subsidiary in the United Kingdom.
The Access Bank (UK) Ltd has its head office at No 1, Cornhill in the City of London, overlooking the Bank of England. The Bank’s Mayfair office is located at 53, Davies Street, London. The new UK subsidiary will offer a full range of banking services which include corporate banking, personal banking, treasury and trade finance.
Abuja - First Bank of Nigeria Plc has paid a N24 billion dividend at N1.20k per share, for the financial year ended March 31, 2008, despite the recent downturn in the Nigeria capital market. This, the bank believes, is to reaffirm investors’ confidence in its ability to create value and keep faith with its promise to shareholders.
The total dividend payout, the largest in the history of Nigeria’s banking industry, is almost enough to get a new banking license – going by the N25 billion minimum shareholders’ funds requirement. The bank has also declared a bonus of one share for every four shares previously held before the close of the shareholders’ register on August 08, 2008.
One of Nigeria’s oldest and successful banks, Union Bank Nigeria Plc, is set to raise over N301 billion from the Nigerian capital market, the highest amount to be raised by any bank in the history of the nation’s capital market.
The bank intends to float a hybrid offering comprising offer for subscription of 7.3 billion ordinary shares of 50 kobo each at N36.00 per share and a Rights Issue of 1.4 billion ordinary shares of 50 kobo each at N35.00.
Managing Director/CEO of the bank, Dr. Barth Ebong said that both the Public Offering and Rights Issue are given at a discount of N6.00 and N7.00 per share, respectively.
Abia - Nigerians Banks have deployed new creative ways of transporting money, using helicopters as a substitute for armed bullion vans, following incessant robbery attacks in recent times. Hopefully, robbers will not find a way to checkmate this new move.
In fact, it was gathered that a helipad was specifically built for the helicopters to land and take off with money.
According to the News Agency of Nigeria (NAN), this move by banks became necessary following rampant attacks on bullion vans by gunmen which sources said were more than 10 in the last three months.