By Peter OBIORA InvestAdvocate

Lagos (INVESTADVOCATE)-Sterling Bank Plc Wednesday increased its dividend payout to investors of the bank by 25 percent (25%) as it proposed a dividend of 25 kobo per share compared to 20 kobo paid in 2012.

According to analysts at Investment One Financial Services, in the review period, the bank has recorded a dividend yield of 11.16%.

The bank in its corporate action announced to the Nigerian stock exchange (NSE) that closure of register is April 14 to April 18, 2014 and annual general meeting (AGM) and payment date has been scheduled for April 30, 2014.

A review of the 2013 audited report of the bank shows that profit after tax (PAT) increased by 19% as it declared N8.274 billion in 2013 full year compared to N6.953 billion reported in 2012.

Similarly, profit before tax (PBT) grew from N7.500 billion in 2012 audited year end to N9.310 billion in 2013 full year; indicating a growth of 24.1%.

Also, gross earnings increased from N68.856 billion in 2012 end to N91.628 billion in the same period of 2013; showing an increase in gross earnings of 33.1%.

At the close of trading at the Nigerian bourse, Sterling Bank gained 12 kobo as it opened at a price of N2.24 kobo and closed at N2.36 kobo.