Sterling Bank Says 2019 Pretax Profit up 12.5%, Offers 3 Kobo per share Dividend

March 26, 2020

By InvestAdvocate

Abubakar Suleiman. Chief Executive Officer, Sterling Bank Plc

Lagos (INVESTADVOCATE)-Sterling Bank Plc said on Thursday its pretax profit for the period ended December 31, 2019 grew 12.5 percent to N10.7 billion from N9.48 billion posted a year ago.

Profit after tax (PAT) of the lender increased 15 percent to N10.6 billion from N9.22 billion declared in the same period of 2018.

Gross earnings of Sterling Bank inched up 1.0 percent from N148.70 billion in 2018 end to N150.90 billion in the review period of 2018; the lender said in a filing with the Nigerian Stock Exchange (NSE).

The bank proposed a three (3) kobo per share dividend payment to its investors and said qualification date is May 4, 2020; while closure date has been scheduled for between May 5 to May 8, 2020.

The lender says Annual General Meeting (AGM) and payment dates will be May 20, 2020 respectively.

Shares of Sterling Bank at the close of Thursday’s trading on the floor of the Nigerian Stock Exchange (NSE) appreciated 6.93 percent to N1.08 from N1.01, gaining N0.07 kobo per share

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