GTCO shareholders approve N91bn dividend payment
Guaranty Trust Holding Company (GTCO) Plc shareholders have approved payment of a total dividend of N91.24billion representing N3.10 per share for the financial year ended December 31, 2022.
This is contained in a statement said the endorsement was made at the holding company’s second annual general meeting on Thursday, virtually.
The Group proposed a final dividend of N2.80 per unit of ordinary share held by shareholders in addition to the interim dividend of 30 kobo interim dividend paid in June, bringing the total dividend for the 2022 financial year to N3.10 per unit of ordinary share.
Speaking on behalf of shareholders, the immediate past President of Nigeria Shareholders Solidarity Association, Chief Timothy Adesiyan, commended the management of GTCO for the impressive 2022 financial performance achieved and the consistent dividend policy of the Group.
He also noted that the Group had contributed to the growth of the economy in its lending to agriculture, SMEs, real sector, among others as seen in the award obtained by the Group in the year.
Addressing the shareholders, the Chairman of GTCO, Mr Hezekiah Oyinlola said“as I reflect on 2022, I recall the challenges we faced at every turn and the prospects that became significant milestones in our journey towards creating a robust yet agile institution.
“As we look across our burgeoning GTCO Universe, we take pride in the concrete outcomes of our diligent efforts and unyielding dedication towards expanding our influence and strengthening our position as a leading provider of financial services in Africa.”
He said “in 2022, our ambition was crystal clear, and we set out to achieve it with unwavering focus. We completed the setup of our holding company and acquired full ownership of Investment One Pension Managers and Investment One Fund Managers, now named Guaranty Trust Pension Managers and Guaranty Trust Fund Managers, respectively. Our payment subsidiary, HabariPay Limited, also launched in 2022 and almost immediately introduced its flagship product Squad to the market with outstanding reviews.
“The highlight for me is that these newly created businesses – in payments, fund managers, and pensions ran successfully and were profit before tax positive by the end of the year.”
He said, “in 2022, our ambition was crystal clear, and we set out to achieve it with unwavering focus. We completed the setup of our holding company and acquired full ownership of Investment One Pension Managers and Investment One Fund Managers, now named Guaranty Trust Pension Managers and Guaranty Trust Fund Managers, respectively.
The Group Chief Executive Officer, GTCO, Mr Segun Agbaje, said in spite of the varying challenges and headwinds that weighed on growth in 2022, the Group delivered a decent performance, posting a pre-tax profit of N214.2bn representing a dip of 3.0 per cent from N221.5bn posted in full year, 2022.
