By Yakubu LAAH InvestAdvocate

Lagos (INVESTADVOCATE) – First City Monument Bank (FCMB) Friday declared a 30 kobo dividend after its year 2012 audited year end reward of 1 for 25 bonuses to shareholders of the bank.

A review of the bank’s dividend history when its year end was April shows that in 2005, 2006, 2007, 2008, the banks declared 7.5 kobo, 13 kobo, 35 kobo and 50 kobo respectively.

As the bank changed to the common December year-end for Nigerian banks as directed by the central bank (effective 31 December 2009), FCMB’s financial year now runs from January 01 each year up to and including 31 December of the same year.

In this period from 2009 to 2010, FCMB paid 5 kobo and 35 kobo respectively.

However, the bank did not declare any dividend in 2011; but in 2012 it rewarded its shareholders with a 1 for 25 bonuses.

In its corporate action to the Nigerian stock exchange (NSE), FCMB announced that is annual general meeting (AGM) and payment date of the 30 kobo dividend per share to investors is yet to be determined.

A review of the banks 2013 audited report shows that gross earnings increased N116.832 billion in 2012 end to N130.995 billion in 2013; indicating an increase of 12.1 percent (12.1%).

Post-tax profit also grew slightly from N15.122 billion in 2012 end to N16.001 billion in the review period of 2013; showing a growth of 5.8%.

Similarly, pre-tax profit went up by 5.25 as the bank reported N16.248 billion in 2012 audited year end compared to N18.184 billion in the same period of year 2013.