Shareholders approve GTCO’s N91.24bn total dividend payout for 2022
During Guaranty Trust Holding Company’s virtual annual general meeting on Thursday, shareholders approved the payment of a total dividend of N91.236 billion, equal to N3.10 per share, for the 2022 financial year ending on December 31. The Group’s final dividend of N2.80 per unit of ordinary share held, plus the interim dividend of 30 kobo per share paid in June, brought the total dividend to N3.10 per unit of ordinary share. The board was commended for achieving strong financial performance despite the challenging operating environment, and shareholders praised the Group’s consistent dividend policy and contributions to the growth of the economy, including its lending to Agriculture, SMEs, and the Real Sector.
Hezekiah Oyinlola, Chairman of GTCO, reflected on the challenges of 2022 and the Group’s accomplishments in expanding its influence as a leading provider of financial services in Africa. GTCO completed the setup of its holding company, acquired full ownership of Investment One Pension Managers and Investment One Fund Managers, now named Guaranty Trust Pension Managers and Guaranty Trust Fund Managers, respectively, and launched its payment subsidiary, HabariPay Limited, in 2022. The Group’s diversified business model and agile systems, focus on customer-centricity, innovation, and long-term value creation, will be key drivers of future success.
Despite the varying challenges and headwinds faced in 2022, the Group delivered a decent performance, posting a pre-tax profit of N214.2 billion, a dip of 3% from N221.5 billion in the full year 2021. Gross earnings increased by 20.4% to N539.2 billion in 2022. Segun Agbaje, GTCO’s Group Chief Executive Officer, believes the new holding structure of the organization will be a propeller in its journey towards sustained growth and success, and that the Group’s structure of complementary businesses helps it remain agile, innovative, and adaptable to changing market dynamics, while delivering superior returns to shareholders.