Nigeria’s Stanbic IBTC offers scrip dividend option for three years

Nigeria’s Stanbic IBTC Bank said Thursday it will offer shareholders the option to receive scrip dividends in lieu of cash dividends over the next three years after it declared an interim dividend.

The mid-tier lender, which is part of South Africa’s Standard Bank, did not provide a reason for the move.

The bank declared a interim dividend of 0.60 naira for its half-year to June 30.