By Opeyemi Issa InvestAdvocate

Lagos (INVESTADVOCATE)-NPF Microfinance Bank Plc Thursday announced a reduction in dividend payment to investors of the Company by 60 percent (60%).

To record a 60% reduction in year 2011 dividend payout to shareholders, the Microfinance Bank Notified the Nigerian Stock Exchange (NSE) that its Board of Directors has resolved to recommend a 2 Kobo dividend for year 2011 end compared to 5 Kobo paid in 2010.

“NPF Plc has notified The Exchange that at its Board of Directors meeting held on March 14, 2012, the Board resolved to recommend the payment of dividend of 2k per every 50k ordinary shares held in the Bank to its shareholders for approval” the Notice said.

According to NPF Microfinance Bank, the total estimated dividend to be paid is N45, 733, 120.

NPF Microfinance Bank on December 01 2010 listed N2.2 billion worth of shares on the Floor of the Nigeria’s Exchange at N1.50k per share.