GTCO shareholders endorse N3 dividend payment

Shareholders of Guaranty Trust Holding Company (GTCO) on Friday unanimously endorsed the payment of a total dividend of N3 per share for the financial year ended Dec. 31, 2021.

The shareholders gave the endorsement at the company’s 1st Annual General Meeting (AGM) in Lagos.

The bank 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 interim dividend paid in June.

This brings the total dividend for the 2021 financial year to N3 per unit of ordinary share.

The Shareholders commended the board for the transition into a holding company and the financial performance achieved during the period under review despite the tough operating environment.

The Patron, Nigeria Shareholders Solidarity Association (NSSA), Mr Timothy Adesiyan, who spoke on behalf of the shareholders, appreciated the progress made by the bank to transit to a holding company.

He said the shareholders anticipated a brighter future from the company going by the good corporate governance principle with which it was being run.

Mr Boniface Okezie, Chairman, Progressive Shareholders Association of Nigeria, commended the Board of GTCO for being proactive in becoming a holding company.

The Chairman of GTCO, Mr Hezekiah Oyinlola, described 2021 as a pivotal year in the corporate history of the company after years of revision 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.

He said the company’s progress was a product of its drive to diversify its income streams and ensure long-term value creation for all stakeholders.

Oyinlola expressed complete confidence in the ability of the leadership team to unlock new and exciting opportunities that would unleash the potential of the company’s diversification for long-term growth and sustainable returns.

“When I look at the future-proofing of every part of our organisation, from our talent base to our business models and digital capabilities, I am reminded of just how forward-thinking our management team continues to be,” he said.

Oyinlola also expressed joy at the new holding company’s structure, adding that there were immense opportunities opened by its strategic investments in building up diverse lines of business

He added that the future of financial services belonged to the institutions that would seamlessly integrate the full range of cutting-edge solutions in a people-centric digitally enabled ecosystem.

Mr Segun Agbaje, the Group Chief Executive Officer (CEO) of GTCO, said the company started 2021 with its corporate reorganisation and finished the year more robust and dynamic to consolidate its lead across the ever-extending breadth of financial services.

“Following the shareholders’ approval of our transition to a holding company structure in December 2020, we worked with relevant stakeholders to ensure a smooth transition.

”We also had the best people and the right structures to drive our vision of becoming Africa’s leading financial services groups,” Agbaje said