By InvestAdvocate

Lagos INVESTADVOCATE)-Access Bank Plc Friday increased its dividend payout by 67 percent (67%) by offering its investors a 50 Kobo for the Audited Year End December 31 2011.

From the Result Announcement of the Bank to the Nigerian Stock Exchange (NSE) and made available to www.investadvocateng.com in Lagos Nigeria, the Bank recorded the 67% increase in dividend payment to its shareholders as it proposed 50 Kobo in year 2011 end compared to the 30 Kobo paid in year 2010 end.

The Bank had earlier paid a 20 Kobo interim dividend for the Audited Second Quarter (Q2) Result for the period June 30 2011 and for the full year proposed a 30 Kobo dividend making it a total dividend of 50 Kobo for the year 2011 end.

Access Bank in its Corporate Actions to the Nigeria’s Exchange affirmed that closure date of Register of investors whose name appears on the Bank’s record is April 13 2012 and Annual General Meeting (AGM) and payment date scheduled for April 27 2012 respectively.

A look at the 2011 Audited Year End of the Bank, shows that Profit After Tax (PAT) grew by 51.0% as the Bank recorded a PAT of N16.708 billion in year 2011 compared to N11.068 billion in year 2010 end.

Profit Before Tax (PBT) also increased from N16.168 billion in year 2010 to N20.301 billion in year 2011 end; indicating an increase 0f 25.5% in the review period.

While Gross Earnings went up by 52.5% as the Bank posted N138.949 billion in 2011 compared to N91.142 billion in year 2010.

Analyst says that positive reactions trailed the announcements as growing demand for Access Bank led to a 5.0% gain.

Access Bank closed at N6.53 kobo compared to N6.22 Kobo as at Thursday March 15 2011.

Click here to download full Access Bank Plc 2011 Report