By investadvocate

Lagos (INVESTADVOCATE)-Fidelity Bank Plc has increased its dividend payout to investors of the Bank by 180% for the Audited Year Ended December 31 2010.

To record this feat, the Board of Director of the Bank proposed to reward investors of the Bank with a 14 Kobo dividend payout for the review period compared to five Kobo it gave to investors in year 2009 end; indicating an increase of 180%.

According to the Bank, closure of Register of Members is 22^nd-28 April 2011, while date for payment for the dividend is Thursday May 19 2011; after the Bank’s Annual General Meeting (AGM) scheduled for Thursday May 12 2011 at the Hilton Hotel in Abuja Nigeria.

A review of the Bank’s Audited Result for the review period showed that Turnover increased from N34.716 billion in year 2009 compared to N56.048 in year 2010; indicating an increase of 61.45%.

Profit After Tax (PAT) also grew from N1.557 billion in year 2009 to N6.105 billion in the Audited Year Ended December 31 2010; therefore, representing a growth of 292.10%.

While the Bank recorded a Profit Before Tax (PBT) of N8.648 billion in year 2010 compared to N2.054 billion in year 2009; showing and significant rise of 321.03% in the review period.