Stanbic IBTC To Pay 1.50 naira dividend, Nestle Pays 38 naira to shareholders

Nigeria unit of South African Standard Bank, Stanbic IBTC posted 44.13 percent jump in its profit before tax for the year 2018 and 4.67 percent increase in gross earning, the bank has said.
Stanbic IBTC recorded 88.15 billion naira in profit before tax in 2018 against 61.16 billion naira the previous year. Its gross earning rose to 222.36 billion naira compared with 212.43 billion naira posted the previous year.
The lender has proposed a dividend of 1.50 naira per share payable to shareholders from its profit after tax of 74.44 billion naira.
South Africa's Standard Bank Group now control 64.45 percent stake in the local lender, having raised its stake from 53.07 percent last year.
According to the parent company, it acquired additional 1.142 billion shares in an off-market transaction in May last year in its bid to increase its stake in the local lender.
Dividend payout to shareholders is subjected to deduction of appropriate withholding tax and approval and would be paid to shareholders whose names appear in the Register of members as at the close of business on Wednesday March 20, 2019.
Meanwhule, Nestle Nigeria said it will payout a final dividend of 38.50 naira per share for the financial year ended Dec. 31, 2018.
The food company gross profit for the year increased to 113.9 billion naira from 100.9 billion naira recorded in 2017.

Its profit before tax jumped to N59.75 billion from N46.83 billion in 2017.