Lagos (INVESTADVOCATE)-Nigeria’s tier one lender, Guaranty Trust Bank Plc on Wednesday said its pretax profit for the period ended December 31, 2017 climbed up 21.4 percent to N200.4 billion from N165.1 billion recorded a year earlier.
Post-tax profit of the bank also appreciated 28.9 percent to N170.5 billion from N132.3 billion declared the same period of 2016.
Gross earnings increased from N414.6 billion in 2016 end to N419.2 billion posted the review period of 2017; representing a marginal increase of 1.1 percent GTBank said in a filing with the Nigerian Stock Exchange (NSE).
In its corporate action to the NSE, the lender offered a final dividend of N2.40 kobo per share to its shareholders for the audited period ended December 31, 2017 compared to N1.75 kobo paid in 2016 end. GTBank had already paid shareholders a 30 kobo per share interim dividend in the half-year (H1) period ended June 30, 2017; bringing total dividend to N2.70 per share.
InvestmentOne analysts say the final dividend of N2.40 per share represents a dividend yield of c.5 percent based on the bank’s close price as at March 13, 2017,
