By Yakubu LAAH InvestAdvocate

Lagos (INVESTADVOCATE)-Nigerian lender, Guaranty Trust Bank Plc (GTBank) Friday announced a -6.45 percent (-6.45%) decrease in its dividend payout to shareholders of the bank for 2013 audited year end.

To declare a -6.45% decline in dividend payout for the review period, GTBank in its 2012 audited year end paid investors a final dividend of N1.55 kobo compared to N1.45 kobo proposed in 2013 end.

The bank paid an interim dividend of 25 kobo last year and a final dividend of N1.30 bringing the total dividend per share for 2012 financial year end to N1.55 kobo. Analysts say the bank currently have a dividend yield of 5.97%.

According to GTBank, closure date of register of shareholders of its global depository receipt (GDR) is March 24, 2014 and that of ordinary shareholders is March 28, 2014 while annual general meeting (AGM) and payment dates has been scheduled for April 14, 2014.

GTBank had recorded gross earnings of N242.665 billion in 2013 audited year end; slightly up by 8.8% from N223.064 billion in the corresponding period of 2012.

Profit before tax (PBT) rose from N103.017 billion in 2012 end to N107.091 billion in 2013 end; indicating a growth in PBT of 3.9%.

While profit after tax (PAT) increased from N86.687 billion in 2012 end to N90.024 billion; representing an increase of 3.8% in the period under review.