Shareholders of Guaranty Trust Holding Firm (GTCO) Plc have authorized the cost of a complete dividend of N8.03 per share for the {financial} 12 months ending December 31, 2024.
This choice was taken on the firm’s fourth annual normal assembly, which was held nearly yesterday. The corporate had beforehand paid an interim dividend of N1 per share, and would now make a further N7.03 per share bringing the entire dividend for the 2024 {financial} 12 months to N8.03 per share.
Chatting with shareholders, the chairman of GTCO, Mr Hezekiah Sola Oyinlola, emphasised the group’s capability to stay agile and forward-thinking, which has allowed the corporate to attain record-breaking performances.
Oyinlola in his deal with on the AGM said that, “In 2024, we turned the primary Nigerian {bank} to surpass the N1 trillion revenue mark, an achievement that underscores the resilience of our enterprise mannequin, the dedication of our folks, and the belief our prospects place in us.”
In line with him, the corporate’s success in a altering macroeconomic panorama is constructed on three pillars: operational excellence, disciplined threat administration, and a relentless deal with customer-centric innovation. He famous that the banking enterprise continues to show robust fundamentals, supported by a sturdy capital base and efficient price administration.
“Our strategic diversification into funds, asset administration, and pension fund administration has supplied complementary income streams, reinforcing our management within the {financial} providers sector,” he added.
Additionally talking on the group’s 2024 efficiency, the Group Chief Government Officer of GTCO, Mr. Segun Agbaje famous that, “In 2024, we reached a historic milestone, delivering over N1 trillion in revenue earlier than tax, changing into the primary Nigerian {financial} establishment to attain this feat.”
He emphasised that its banking subsidiary, Guaranty Trust {Bank} stays central to its operations, driving progress in Nigeria, West Africa, East Africa, and the UK.
“In 2024, we navigated a quickly evolving regulatory and macroeconomic setting with a deal with strengthening our {financial} place and delivering best-in-class banking providers,” he defined.
Agbaje additionally famous that the Central Bank of Nigeria’s recapitalization coverage introduced a possibility to strengthen market management, permitting the group to finish the primary part of its fairness capital elevating plan by a Public Supply.
“This Public Supply attracted robust participation from each home retail and institutional traders, elevating N209.41 billion and increasing our shareholder base from 332,000 to over 460,000,” he added.
“With this momentum, we’re ready to launch the second part of our capital elevating plan in 2025, focusing on vital international institutional investments to additional solidify our status as a globally acknowledged and aggressive {financial} providers model,” he added.
Trying forward, Agbaje said, “Our focus will probably be on deepening digitalization, enhancing buyer experiences, and increasing our ecosystem of economic and non-financial options. We are going to proceed to spend money on cutting-edge know-how, strengthening our cybersecurity framework, and constructing strategic partnerships that unlock new progress alternatives. Most significantly, we’ll stay true to our objective: driving {economic} progress, fostering {financial} inclusion, and creating sustainable worth for all stakeholders.”
Shareholders recommended the board for the {financial} efficiency achieved through the reviewed interval, regardless of the difficult working setting.
Chief Timothy Adesiyan, talking on behalf of shareholders, praised the administration of GTCO for his or her spectacular {financial} efficiency in 2024 and the dividend payout.
Additionally, Mrs. Bisi Bakara, nationwide coordinator of the Pragmatic Shareholders Affiliation of Nigeria, recommended the board, administration, and employees for his or her stellar efficiency and success within the face of adversity. She expressed approval for the proposed closing dividend declaration of N7.03 per share, which totals N8.03 in dividend funds.
For the 12 months ended December 31, 2024, GTCO reported a exceptional 81.1 per cent surge in gross earnings, reaching N2.15 trillion, up from N1.19 trillion in 2023.
Oyinlola earlier than the top of the AGM additionally introduced that as a part of the corporate’s succession plan, Mr Suleiman Barau has been appointed as the brand new Group Chairman, pending regulatory approval.
He highlighted Barau’s in depth expertise and respect within the business, noting that “he’s a former Deputy Governor of the Central Bank of Nigeria, with a confirmed monitor report of management and strategic perception.
