By Yakubu LAAH InvestAdvocate

Lagos (INVESTADVOCATE)- Africa’s top tier lender, Access Bank Plc said on Friday its pretax profit for the year 2014 rose 20 percent to N52.02 billion from N43.53 billion reported last year, the bank said in a filing with the Nigerian Stock Exchange (NSE).

Post tax profit also increased 18 percent to N42.97 billion from N39.29 billion recorded in 2013.

Similarly, gross earnings climbed up 18.5 percent to N245.21 billion from N206.89 billion a year earlier.

The lender proposed to pay a dividend of 35 kobo per share same amount paid the previous year.

Access Bank says closure date for investors who would benefit from the dividend payment is April 24; while the annual general meeting (AGM) and payment date has been scheduled for May 7, 2015 respectively.

Access Bank shares declined 3.17 percent to N6.10 from N6.30 it traded yesterday’s session losing 20 kobo.

On February 5, Herbert Wigwe, group managing director/chief executive officer (GMDCEO) of Access Bank said  the lender will pay dividend in 2015.

Wigwe affirmed this during the bank’s “Facts behind the Offer” presentation at the Nigerian Stock Exchange (NSE).

“We will pay dividend to investors of the company this year,” he said.

The CEO of Access Bank says as an institution, the bank has always kept to its promise made to investors.

“As an institution, we have kept every promise we have made to our investors, as we started approaching the offer, the local investors appeared to be interested in it, most of them are standing up for us and so what I can assure you is as big as this number is, they have the wherewithal towards the rights issue,” Wigwe added.

The bank on March 5, announced it has received approval for extension of its N52.6 billion rights issue for two (2) weeks to March 18.

Access Bank on January 26 opened its N52.6 billion ($275.10 million) rights issue at N6.90 per share and offered to sell 7.63 billion ordinary shares of 50 kobo each at a ratio of one new share for every three held by existing shareholders.

The lender said the issue was extended by two (2) weeks to give shareholders who are yet to take up their rights more time to do so considering the prevailing economic and political situation.