UPDATE 1: Fidelity Bank Reports N22.93 Billion Profit for FY’18, Offers 11 Kobo Final Dividend

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Nigeria’s top tier lender, Fidelity Bank Plc on Friday announced its profit after tax (PAT) for the period ended December 31, 2018 grew 29 percent to N22.93 billion from N17.77 billion recorded a year ago.

Profit before tax (PBT) of the Bank rose 30.6 percent to N25.08 billion from N19.21 billion posted in the corresponding period of 2017.

Gross earnings of the lender appreciated 4.8 percent to N188.87 billion from N180.24 billion declared in 2017 financial year end, Fidelity Bank said in a filing with the Nigerian Stock Exchange (NSE).

The board of directors of the Bank has offered investors a final dividend of 11 kobo per share for the period ended December 31, 2018 same amount paid the previous year, amounting to N3.186 billion as final dividend for the full year ended December 31, 2018.

The lender said in its filing to the NSE that the dividend which is subject to withholding tax will be paid to shareholders whose names appears on the register of members at the close of business on April 12, 2019.

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