Standard Chartered Bank has announced Friday, March 30, 2020, for the payment of dividend to its preference shareholders.
In a notice published in today’s newspapers, the bank announced the payment of dividend to its preference shareholders for the period of six months to March 2020.
In June this year, the bank declared a dividend of GH¢1.04 per share, which amounts to some GH¢140 million for the 2018 fiscal year.
The amount represents 20 percent of the bank’s total revenue.
The payment of the dividend has been attributed to the growth in the bank’s basic earnings per share which grew from GH¢1.54 in 2017 to GH¢2.09 in 2018.
The bank recorded a moderate growth in operating income which grew by five per cent year on year to GH¢712.9 million.
The bank’s profit before tax of GH¢325.8 million for 2018 represented a decline of 23 percent from the previous year.
The bank attributed the decline in profit to an increase in its impairment charges, which rose to GH¢91.2 million.
Operating expenses also increased by 17 percent from GH¢244.9 million in 2017 to Gh¢286.3 million in 2018.
Managers of the bank at their Annual General Meeting this year, expressed optimism that the reforms undertaken by the Bank of Ghana will deliver a more robust and stronger financial sector to support the country’s economic development in the long run.