Shareholders okay GTCO’s N3 dividend

Shareholders of Guaranty Trust Holding Company (GTCO) Plc have unanimously endorsed the bank’s N3 dividend for the 2021 financial year.

This endorsement was made at the holding company’s 1st Annual General Meeting (AGM) held in Lagos.

The Group had proposed a final dividend of N2.70 per unit of ordinary share held by shareholders in addition to the interim dividend of 30 kobo paid in June, bringing the total dividend for the 2021 financial year to N3.

Also at the meeting, the shareholders approved the appointment of a new board, even as the management promised to unlock new opportunities to unleash the potential of the bank’s diversification for long-term growth and sustainable returns.

Speaking on behalf of the shareholders, the patron, Nigeria Shareholders Solidarity Association (NSSA), Timothy Adesiyan, applauded the progress that the bank has made in its transition to a holding company.

He said that the shareholders have great expectations from the company, noting that with the good corporate governance principle with which the company is run, the future is bright for the shareholders.

The Chairman of the bank, Hezekiah Oyinlola, described the 2021 financial year as pivotal in the corporate history of the company after years of revision and planning.

Oyinlola said: “After years of revisioning and planning, we successfully reorganised into a holding company to harness the potential within our operating environment and consolidate our position as a leading financial services provider in Africa.”

He said the bank had recorded much progress in its drive to diversify income streams and ensure long-term value creation for all stakeholders.

“When I look at the future of every segment of the organisation, from our talent base to our business models and digital capabilities, I am reminded of how forward-thinking our management has continued to be in its push to stay ahead in creating innovative financial solutions, delivering service excellence and ensuring long-term value creation.”

On the outlook of the bank, Oyinlola said: “I am excited by the potential of our new holding company structure. I see the immense opportunities opened by our strategic investments in building up diverse lines of business.

“The future of financial services belongs to the institutions that will seamlessly integrate the full range of cutting-edge solutions in a people-centric digitally enabled ecosystem.”

The Group Chief Executive Officer (GCEO) of GTCO, Segun Agbaje, said that the company started 2021 with its corporate reorganisation and finished the year more robust and dynamic to consolidate its leadership position.

“Following the shareholders’ approval of our transition to a holding company structure in December 2020, we worked with regulators, the broad spectrum of our stakeholders and some of the most experienced advisory institutions in the world to ensure that we have, not only a smooth transition but also the best people and the right structures to drive our vision of becoming Africa’s leading financial services groups,” he said.