Access Bank Board of Directors approve cash dividend for shareholders

The board of directors of Access Bank Plc has approved an audited report and payment of cash dividends for the 2020 business year.
The board met recently to deliberate over the banking group’s audited consolidated and separate financial statement for that year.
In a statement after the meeting, the bank Bank said that the board approved the financial statements and the payment of a final dividend for the year 2020.
However, the approval is subjected to review of the apex bank, the Central Bank of Nigeria (CBN).
The bank further stated that the audited results will be released publicly to the investors upon the approval of the CBN.
The Shareholders ohad received a total dividend of N23.1 billion as cash payouts for the 2019 business year.
It is expected that Access Bank to sustain impressive dividend payout.
The Bank recently secured the iapproval from the CBN to restructure its operating system from a commercial banking group to a financial services holding company (holdco).
Group Managing Director, Access Bank Plc, Mr. Herbert Wigwe said the proposed holdco structure would go a long way in helping the bank to  accelerate its objectives on business diversification.
He said: “We have consistently said that we are focused on building the scale needed to become a leading African bank; one that leverages our experienced and growing talent base and key stakeholder partnerships towards driving sustainable impact and profitability. Today’s announcement demonstrates further commitment to delivering our strategic aspirations of becoming Africa’s Gateway to the World in line with our vision to be the World’s Most Respected African Bank,” Wigwe said.
He said the transactions will help in strengthening the bank’s presence in Southern Africa and accelerate its steps for growth in the SADC region.
“With a broader presence across the continent, Access Bank will be better placed to support our customers who are increasingly looking towards intra Africa growth. The proposed transactions will accelerate the Bank’s momentum towards delivering world class banking services to an expanded customer base across Africa. Our goal remains to reach and impact 100 million unique customers across the continent,’’ Wigwe said.

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