GTCO shareholders approve N91bn total dividend payout for 2022

By Onome Amuge

Shareholders of Guaranty Trust Holding Company Plc, have endorsed payment of a total dividend of N91.24 billion, representing N3.10 per share for the financial year ended December 31, 2022.

A statement said the endorsement was made recently at the holding company’s second annual general meeting held virtually.

The Group proposed a final dividend of N2.80 per unit of ordinary share held by shareholders in addition to the interim dividend of 30 kobo interim dividend paid in June, bringing the total dividend for the 2022 financial year to N3.10 per unit of ordinary share.

On their part, shareholders commended the board for the financial performance achieved during the period under review despite the tough operating environment.

Speaking on behalf of shareholders,Timothy Adesiyan,  the immediate past President of Nigeria Shareholders Solidarity Association, commended the management of GTCO for the impressive 2022 financial performance achieved and the consistent dividend policy of the group.

He also noted that the group had contributed to the growth of the economy in its lending to agriculture, SMEs, real sector, among others as seen in the award obtained by the Group in the year.

Addressing shareholders, Hezekiah Oyinlola, the chairman of GTCO, recalled the challenges it faced at every turn and the prospects that became significant milestones in its journey towards creating a robust yet agile institution.

Oyinlola stated that the group’s ambition in 2022 was “crystal clear”, and it set out to achieve it with unwavering focus. This, he said, led to the  completion of the setup of the holding company and acquisition of full ownership of Investment One Pension Managers and Investment One Fund Managers, now named Guaranty Trust Pension Managers and Guaranty Trust Fund Managers, respectively.

“The highlight for me is that these newly created businesses – in payments, fund managers, and pensions ran successfully and were profit before tax positive by the end of the year,” he said.

Segun Agbaje, the group chief executive officer, GTCO, said in spite of the varying challenges and headwinds that weighed on growth in 2022, the group delivered a decent performance, posting a pre-tax profit of N214.2bn representing a dip of 3.0 per cent from N221.5bn posted in full year, 2022.

“I strongly believe that the new holding structure of our organisation will prove to be a propeller in our journey towards sustained growth and success,” Agbaje added.