National Economy
Friday, July 11, 2025
  • Home
  • News
    • International Business
  • Lead-In
    • Cover
    • Investigation
  • Economy
    • Nigerian Economy
    • Fiscal Policy
    • Energy
    • Agri Business
    • Transportation
    • Industry
    • Competition
    • Homes & Property
    • Insurance
    • Companies & Markets
      • Companies
      • Capital Market
  • Tech
  • States & Politics
  • Commentary
    • Analyst
    • Business Matters
    • All Angles Considered
    • ClickSend
  • Editorial
  • Data
  • Others
    • Opinion
    • Money Guide
    • Analysis
    • Growth
    • Sport Economy
No Result
View All Result
Read News
National Economy
  • Home
  • News
    • International Business
  • Lead-In
    • Cover
    • Investigation
  • Economy
    • Nigerian Economy
    • Fiscal Policy
    • Energy
    • Agri Business
    • Transportation
    • Industry
    • Competition
    • Homes & Property
    • Insurance
    • Companies & Markets
      • Companies
      • Capital Market
  • Tech
  • States & Politics
  • Commentary
    • Analyst
    • Business Matters
    • All Angles Considered
    • ClickSend
  • Editorial
  • Data
  • Others
    • Opinion
    • Money Guide
    • Analysis
    • Growth
    • Sport Economy
No Result
View All Result
National Economy
No Result
View All Result
Home Companies & Markets

Sterling Bank’ Shareholders Approve 15kobo Dividend For 2022

by Michael Ijeh
2 years ago
in Companies & Markets
Reading Time: 2 mins read
Sterling Bank
Share on FacebookShare on TwitterShare on Telegram

The shareholders of Sterling Bank Plc, have commended the bank on its remarkable financial performance for the 2022 year, resulting in a recommendation of dividends of 15 kobo per ordinary share; a 50 percent increase from that paid in 2021.
The shareholders gave this commendation at the 61st annual general meeting of the bank held yesterday in Lagos.
Speaking at the meeting, Mr. Rilwan Hamza, one of the shareholders, commended the board members and staff of the bank for the wonderful financial performance.

Another shareholder, Mr. Boniface Okezie, expressed delight at the level of transparency displayed by the board and commended them for the improved dividend payout.

The shareholders urged the board to make the most of the transition into a financial holdings company and establish more subsidiaries that will drive even more growth and increase shareholder value.

The bank’s strong performance for the 2022 financial year was derived from growth in its assets base and customers’ deposits by 14.4 per cent and 9.8 per cent respectively.
This is despite strong economic headwinds experienced by the Nigerian economy in the year under review.
Speaking to shareholders, chairman of Sterling Bank; Mr. Asue Ighodalo said that, “despite the challenges during 2022, our performance reflected our resilience and determination to deliver optimal value for our shareholders.

You May Like

NGX Seeks Regional Collaboration To Unlock West Africa’s Trade, Investment Potential

Bankit MFB Eyes 1m Customers Milestone By Year-end

We are pleased that we closed the year on a good note.”
Ighodalo said the bank grew profit before tax to N 20.8 billion, representing a 29 percent year-on-year increase from N 16.1 billion recorded in 2021, and a 28.5 percent growth in profit after taxes (PAT) to achieve the sum of N19.3 billion for 2022.

He said the PAT growth was driven by an N18.6 billion improvement in net operating income amidst heightened inflationary pressure and regulatory policies, adding that the gross earnings grew by 16.6 percent to N175.1 billion compared to N150.2 billion reported in 2021.

On business outlook for the year, the Chairman noted that “we remain very optimistic about our bank’s future and are devoted to effectively transforming our business to deliver optimal performance, and significantly offer superior services to millions of Nigerians.

“We are steadfast in our commitment to lead with best-in-class customer experience, establish a work environment that helps our employees became the best versions of themselves, become even more socially responsible as an institution, and create immense value for our shareholders.”

The chairman said, “Our transformation into a holding company structure will allow shareholders and customers to maintain continued exposure to the bank’s existing lines of business and gain exposure to new business lines that will enhance shareholder value.

“As we chart a new future for our organisation, the expanded company structure will give us the renewed ambition to conquer new ground and solve more problems.”

ShareTweetShare
Previous Post

Investors Investments Up By N1.83trn In May

Next Post

I-Invest Celebrates Fifth Anniversary, Shares Powerful Investment Insights

ANOTHER GOOD READ

NGX Seeks Regional Collaboration To Unlock West Africa’s Trade, Investment Potential
Companies & Markets

NGX Seeks Regional Collaboration To Unlock West Africa’s Trade, Investment Potential

2 weeks ago
Bankit MFB Eyes 1m Customers Milestone By Year-end
Companies & Markets

Bankit MFB Eyes 1m Customers Milestone By Year-end

2 weeks ago
Mouka Wins Awards On Use Of Integrated Media, Execution
Companies & Markets

Mouka Wins Awards On Use Of Integrated Media, Execution

2 weeks ago
Firm Launches New Sun Protection Product To Champion Skin Health
Companies & Markets

Firm Launches New Sun Protection Product To Champion Skin Health

3 weeks ago
Mouka Promises To Build Community Of Thriving Business Owners
Companies & Markets

Mouka Promises To Build Community Of Thriving Business Owners

3 weeks ago
Companies & Markets

Entrepreneurs Commend FCMB’s Training Programme

3 months ago
Next Post
I-Invest Celebrates Fifth Anniversary, Shares Powerful Investment Insights

I-Invest Celebrates Fifth Anniversary, Shares Powerful Investment Insights

Most Recent

Trump Cryptocurrency Drops Amid US Tariff Backlash

Trump Threatens 10% Tariff On Countries Aligning With BRICS

July 7, 2025
China Hits US With Retaliatory Tariffs, Launches Probe Into Google Practices

China Responds To Trump’s Tariff Threat Against BRICS-Aligned Countries

July 7, 2025
CBN Unveils New Liquidity Instruments For NIFIs

CBN Clarifies BVN Fee For Nigerians In Diaspora

July 7, 2025
Labour Institute’s DG Hails Tinubu On Rights Protection, Nigeria First Policy

Fiscal Governance Lifeblood Of National Development— Tinubu

July 7, 2025
Labour Institute’s DG Hails Tinubu On Rights Protection, Nigeria First Policy

At BRICS Summit,Tinubu Demands Reform Of Global Financial, Health Systems

July 7, 2025
LG Launches “Radio Optimism” Campaign

LG Launches “Radio Optimism” Campaign

July 7, 2025
Are Africans Genetically Inferior?

Are Africans Genetically Inferior?

July 7, 2025
Jaiz Bank Lifts NYSC Camp Spirit With Thrilling Football Match

Jaiz Bank Lifts NYSC Camp Spirit With Thrilling Football Match

July 7, 2025
Advertise with us

© 2024 | National Economy

No Result
View All Result
  • Home
  • News
    • International Business
  • Lead-In
    • Cover
    • Investigation
  • Economy
    • Nigerian Economy
    • Fiscal Policy
    • Energy
    • Agri Business
    • Transportation
    • Industry
    • Competition
    • Homes & Property
    • Insurance
    • Companies & Markets
      • Companies
      • Capital Market
  • Tech
  • States & Politics
  • Commentary
    • Analyst
    • Business Matters
    • All Angles Considered
    • ClickSend
  • Editorial
  • Data
  • Others
    • Opinion
    • Money Guide
    • Analysis
    • Growth
    • Sport Economy

© 2024 | National Economy