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Business News of Wednesday, 15 July 2020

Source: Business 24

GCB Bank proposes GH¢0.2 per dividend per share for 2019

The Board of Directors of GCB Bank Ghana Limited has recommended the payment of GH¢0.2 as dividend per share to shareholders for the 2019 financial year, according to a statement it issued to the Ghana Stock Exchange.

All shareholders registered in the books of the bank as of July 17 will qualify for the dividend, with the register to be closed by July 20.

The ex-dividend date has been set as of Wednesday, July 15, 2020, which means only investors purchasing GCB shares before that date will be entitled to the final dividend. The final dividend will be paid by Friday, August 14.

The proposed amount will be announced to shareholders at the bank’s 26th annual general meeting which will be held virtually on 30th July 2020 and streamed live online via, and on its social media handles Facebook, Instagram, YouTube and Twitter as well as GTV.

GCB Bank is among the banks that have been able to withstand the shocks of the coronavirus pandemic with impressive first-quarter performance recording significant growth in all key indicators.

Profit for the period was up by 30percent from the same period 2019 figure of GH¢323m to GH¢421m in 2020.

Revenue for the quarter grew marginally from GH¢1.3bn last year to GH¢1.6bn whilst its assets surged to GH¢12.4bn from the previous GH¢10.6bn that was recorded in 2019.

The bank was also able to mobilise GH¢9.3billion from its customer amid the torrid conditions, up from the GH¢8bn that was accrued for quarter-one 2019.