Standard Chartered Bank Ghana has announced a final dividend of GHS1.04 per share in respect of 2018 financial despite 25.7%y/y drop in earnings to GHS210.65mn in FY2018.
The need to boost investor confidence in the stock may have necessity such a decision, especially given that the bank didn’t pay any dividend in 2017.
The dividend per share of GHS1.04 reflects a dividend payout ratio of 57.0% of the bank’s net earnings of GHS210.65mn. It also reflects a dividend yield of yield of 5.5% based on the bank’s prevailing market valuation of GHS18.97 per share. See details below.
SCB announces that the Company’s Directors will be recommending to the shareholders at the upcoming Annual General Meeting, the payment a final dividend of a GH¢1.04 per share for the 2018 financial year.
All shareholders registered in the books of SCB at the close of business on Monday, 3rd June, 2019 will qualify for the final dividend.
Closure of Register
The Register of shareholders will be closed on Tuesday, 4th June 2019 to Thursday, 6th June 2019. (Both dates inclusive)
In view of the foregoing, the ex-dividend date has been set as Thursday, 30th May, 2019. Consequently, an investor purchasing SCB shares before this date will be entitled to the final dividend. However, an investor buying SCB shares on or after Thursday, 30th May, 2019 will not be entitled to the final dividend.
Dividend Payment Date
The final dividend will be paid on Friday, 28th June, 2019.