GTCO shareholders approve payment of N3 dividend per share

The shareholders of Guaranty Trust Holding Company (GTCO) Plc have unanimously approved the payment of a total dividend of N3 per share for the year ended December 31, 2021.

This approval was made during the 1st Annual General Meeting (AGM) of the holding company which was 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 financial year 2021 to 3.00 N per common share unit.

The shareholders congratulated the Board of Directors for the transition to a holding company and the financial performance achieved during the period under review despite the operating environment and also unanimously approved the appointments of the new members of the Board of Directors. administration.

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

He said the shareholders expect a lot from the company and with the principle of good corporate governance with which the company is run, the future is bright.

President of the Progressive Shareholders Association of Nigeria, Boniface Okezie, commended GTCO’s board for being proactive in becoming a holding company.

Addressing shareholders, GTCO Chairman Mr. Hezekiah Adesola Oyinlola said that 2021 was a pivotal year in the history of our company. After years of review and planning, we have successfully reorganized into a holding company to harness the potential of our operating environment and solidify our position as a leading financial services provider in Africa.

He highlighted the company’s progress in diversifying its revenue streams and ensuring long-term value creation for all stakeholders.

He says it is a privilege to serve as Chairman of the Board of Guaranty Trust Holding Company and I am aware of our business environment and the many challenges to our profitability. However, I have complete confidence in our management team’s ability to unlock exciting new opportunities that will unlock the potential of our diversification for long-term growth and sustainable returns.

“When I look at the sustainability of every part of our organization; from our talent base to our business models and digital capabilities, I remember how our leadership team continues to be forward-thinking in our company’s ongoing drive to be at the forefront of the creating innovative financial solutions, delivering service excellence and ensuring long-term value creation.

Regarding the company’s outlook, Oyinlola said: “I am excited about the potential of our new holding company structure. I see the immense opportunities opened up by our strategic investments in building various lines of business. The future of financial services belongs to institutions that will seamlessly integrate the full suite of industry-leading solutions into a people-centric digital ecosystem. »

Group Chief Executive Officer (GCEO) of GTCO, Mr. Segun Agbaje, said the company started 2021 with its corporate reorganization and ended the year more robust and dynamic to consolidate its lead on the continual scope growth in financial services, stating that “Following shareholder approval of our transition to a holding company structure in December 2020, we have been working with regulators, the wide range of our stakeholders and some of the most most experienced in the world, to ensure that we not only have a smooth transition, but also the best people and the right structures to carry out our vision of becoming the leading financial services groups in Africa.

He added that in July 2021, we completed the incorporation of Guaranty Trust Holding Company as a new parent company.

Approved by shareholders as members of the GTCO Board of Directors are Mr. Hezekiah Oyinlola, Chairman; Mr. Segun Agbaje, GCEO; Mr. Suleiman Barau, independent non-executive director; Mrs. Helen Lee Bouygues, independent non-executive director; Ms. Catherine Echeozo, Non-Executive Director and Mr. Adebanji Adeniyi, Executive Director.

On earnings performance, Agbaje said the 2021 results show resilient performance across all financial indices, reaffirming the Bank’s position as one of the best managed financial institutions in Africa.

“The Group closed the year 2021 with total assets of 5.436 trillion naira, up 9.9% from 4.945 trillion naira for the year 2020.

“Across all of its banking subsidiaries in West Africa, East Africa and the UK, the Group continues to maintain a diversified balance sheet.

“The Group closed 2021 with pre-tax profit of N221.5 billion, despite the challenges and headwinds presented by the operating and regulatory environments in 2021.”

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Elaine R. Knight