Fidelity Bank Reports N11.1 Billion PBT in 2016, Offer Investors N4.05 Billion Dividend

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Fidelity

Nnamdi Okonkwo, MD/CEO Fidelity Bank Plc
Nnamdi Okonkwo, MD/CEO Fidelity Bank Plc

Bank Plc on Friday reported a pretax profit of N11.1 billion for the period ended December 31, 2016 compared to N14.0 billion recorded a year ago.

Profit after (PAT) of the bank dropped 30.2 percent to N9.7 billion from N13.9 billion posted in the corresponding period of 2015.

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Gross earnings appreciated 4.10 percent to N152.0 billion from N146.9 billion declared in 2015 end, the lender said in a filing with the Nigerian Stock Exchange (NSE).

The board of directors of the Bank is offering investors 14 kobo per share dividend for the period ended December 31, 2016 compared to 16 kobo paid in 2015. The 14 kobo per share dividend amounts to N4.05 billion compared to N4.6 billion last financial year.

At the close of Friday’s trading on the Nigerian bourse, share price of Fidelity Bank jumped 5.00 percent to 84 kobo from 80 kobo traded the previous session; gaining 0.04 kobo per share.