By Yakubu LAAH InvestAdvocate

Lagos (INVESTADVOCATE) – Nigeria’s lender Access Bank Plc has announced a 29.4 percent drop in dividend payout to investors of the bank as it has proposed a dividend of 35 kobo per share in its 2013 fourth quarter (Q4).

The lender had earlier paid an interim dividend of 25 kobo per share in its half year period added to the 35 kobo declared in the audited year end; making it a final dividend of 60 kobo in the review period.

To record the -29.45 drop in dividend, the bank had in its audited period of 2012 paid a final dividend of 85 kobo compared to the 60 kobo per share declared in the audited year end of 2012.

The bank said closure date of register of members is April 17, 2014; while annual general meeting (AGM) and payment dates has been scheduled for April 30, 2014 respectively.

Access Bank announced its AGM will hold at Oriental Hotels, Victoria Island, Lagos.