Access Bank rewards investors with 20 Kobo interim dividend in Q2 of 2011

access-bankBy Peter OBIORA InvestAdvocate

Lagos (INVESTADVOCATE)-Access Bank Plc has rewarded investors of the Bank with a 20 Kobo interim dividend payout in its Audited Second Quarter (Q2) Result for the period June 30 2011.

This was contained in the Profit and Loss Information of the Bank on Wednesday released on the Floor of the Nigerian Stock Exchange (NSE) and made available to InvestAdvocate in Lagos Nigeria.

According to the Bank, the 20 Kobo dividend payment will only be paid to Shareholders whose name appears on the Bank’s Register on the closure date of September 07 2011 and payment date have been scheduled for September 21 2011.

A review of the Banks Audited Q2 result June 30 2011; shows that Gross Earnings increased from N49.408 billion in Q2 of year 2010 compared to N52.468 billion in the same period of 2011; indicating an increase in Gross Earnings of 6.2 percent (6.2%).

Profit After Tax (PAT) also grew from N6.666 billion in Q2 of year 2010 compared with N8.079 billion in the Audited period of year 2011; representing a growth of 21.2% in the review period.

While Profit Before Tax (PBT) also increased from N9.810 billion in Q2 of year 2010 compared with N10.396 billion in the same period of year 2011; showing an increase of 6.0%.

In a Statement by the Bank Wednesday, by Olusegun Fafore, Public Relations, Aigboje Aig-Imoukhuede, Group Managing Director (GMD) of Access Bank, said It was with pleasure that Access Bank reports solid results (audited) for the 2011 half year.

“We continue to experience strong expansion in our Market share resulting from the effective execution of our organic growth strategies. During the period we grew our deposits by 31% and lending also grew by 18% further entrenching our position as one of the Nigeria’s five largest deposit Money Banks.

Given the strength of the Bank’s Capital position and our optimistic outlook for the next six months of the year, we will distribute a cash interim dividend of 20 kobo per share to our shareholders” Aig-Imoukhuede said.

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