Stanbic IBTC declares 5 kobo dividend for 2015 financial year
Stanbic IBTC Holdings is proposing a dividend of 5 kobo to its shareholders for the fiscal year ended 31st December 2015.
The group in a notice to the Nigerian Stock Exchange (NSE) disclosed that the dividend is to be approved by shareholders at its annual general meeting on a date to be announced, while the Date of Payment will be three working days after.
The group’s 2015 full year financial results recorded a 45.2 percent decline in profit after tax to N18.89 billion, compared with N34.5 billion recorded in 2014. Meanwhile notes to the consolidated and separate annual financial statements for the year ended 31 December 2015 reveal that the group was penalized by market regulators namely the Central Bank of Nigeria (CBN) and the NSE for defaults in regulatory compliance.
The NSE penalty was N2.1million for failing to obtain prior approval before the publication of a press release. The CBN placed a penalty of N2 million on the banking entity of the group for providing new credit facilities to customers without BVN, and another N10 million fine imposed for AML/CFT related issues arising from the AML/ CFT spot check in some of the branches.
The CBN further imposed a penalty of N2 million on the banking entity for failure to display conspicuously at its branches notices informing customers of the transfer of non-proprietary assets to custodians and that brokerage will be charged for the purchase of financial assets on their behalf.Another penalty of N100,000 fell on the banking entity for the late rendition of a monthly return on mobile money scheme; and another N75,000 for the late rendition of daily returns for 21st September 2015, 22nd October 2015, and 30th October 2015.
