GTCO Shareholders Approve N8.03 Per Share Dividend Payout

Shareholders of Guaranty Trust Holding Firm (GTCO) Plc have permitted the cost of a complete dividend of N8.03 per share for the monetary yr ending December 31, 2024.

This determination was taken on the firm’s fourth annual normal assembly, which was held just about yesterday. The corporate had beforehand paid an interim dividend of N1 per share, and would now make an extra N7.03 per share bringing the entire dividend for the 2024 monetary yr to N8.03 per share.

Talking to shareholders, the chairman of GTCO, Mr Hezekiah Sola Oyinlola, emphasised the group’s means to stay agile and forward-thinking, which has allowed the corporate to attain record-breaking performances.

Oyinlola in his handle on the AGM said that, “In 2024, we grew to become the primary Nigerian financial institution to surpass the N1 trillion revenue mark, an achievement that underscores the resilience of our enterprise mannequin, the dedication of our individuals, and the belief our prospects place in us.”

Based on him, the corporate’s success in a altering macroeconomic panorama is constructed on three pillars: operational excellence, disciplined threat administration, and a relentless give attention to customer-centric innovation. He famous that the banking enterprise continues to display sturdy fundamentals, supported by a strong capital base and efficient price administration.

“Our strategic diversification into funds, asset administration, and pension fund administration has supplied complementary income streams, reinforcing our management within the monetary companies sector,” he added.

Additionally talking on the group’s 2024 efficiency, the Group Chief Govt Officer of GTCO, Mr. Segun Agbaje famous that, “In 2024, we reached a historic milestone, delivering over N1 trillion in revenue earlier than tax, turning into the primary Nigerian monetary establishment to attain this feat.”

He emphasised that its banking subsidiary, Guaranty Trust Financial institution stays central to its operations, driving progress in Nigeria, West Africa, East Africa, and the UK.

“In 2024, we navigated a quickly evolving regulatory and macroeconomic setting with a give attention to strengthening our monetary place and delivering best-in-class banking companies,” he defined.

Agbaje additionally famous that the Central Bank of Nigeria’s recapitalization coverage introduced a chance to bolster market management, permitting the group to finish the primary part of its fairness capital elevating plan via a Public Provide.

“This Public Provide attracted sturdy participation from each home retail and institutional traders, elevating N209.41 billion and increasing our shareholder base from 332,000 to over 460,000,” he added.

“With this momentum, we’re ready to launch the second part of our capital elevating plan in 2025, concentrating on important international institutional investments to additional solidify our popularity as a globally acknowledged and aggressive monetary companies model,” he added.

Trying forward, Agbaje said, “Our focus will likely be on deepening digitalization, enhancing buyer experiences, and increasing our ecosystem of monetary and non-financial options. We are going to proceed to put money into cutting-edge expertise, strengthening our cybersecurity framework, and constructing strategic partnerships that unlock new progress alternatives. Most significantly, we’ll stay true to our function: driving financial progress, fostering monetary inclusion, and creating sustainable worth for all stakeholders.”

Shareholders recommended the board for the monetary efficiency achieved throughout the reviewed interval, regardless of the difficult working setting.

Chief Timothy Adesiyan, talking on behalf of shareholders, praised the administration of GTCO for his or her spectacular monetary efficiency in 2024 and the dividend payout.

Additionally, Mrs. Bisi Bakara, nationwide coordinator of the Pragmatic Shareholders Affiliation of Nigeria, recommended the board, administration, and workers for his or her stellar efficiency and success within the face of adversity. She expressed approval for the proposed closing dividend declaration of N7.03 per share, which totals N8.03 in dividend funds.

For the yr ended December 31, 2024, GTCO reported a outstanding 81.1 per cent surge in gross earnings, reaching N2.15 trillion, up from N1.19 trillion in 2023.

Oyinlola earlier than the tip of the AGM additionally introduced that as a part of the corporate’s succession plan, Mr Suleiman Barau has been appointed as the brand new Group Chairman, pending regulatory approval.

He highlighted Barau’s intensive expertise and respect within the trade, noting that “he’s a former Deputy Governor of the Central Bank of Nigeria, with a confirmed observe document of management and strategic perception.

“He has been a pioneering director of GTCO since its restructuring. I’m assured that below his steering, GTCO will proceed to thrive, innovate, and ship superior worth to all its prospects and stakeholders”, he said.