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    Friday, May 10, 2019

    Shareholders Approve FBN Holdings’ N9.33bn Dividend Payment

    Shareholders of FBN Holdings Plc have approved a dividend payment of 26 kobo per 50 kobo ordinary share, which amounts to N9.33bn for the 2018 financial year.

    The approval was given at the company’s Annual General Meeting in Lagos.
    The Chairman, FBN Holdings, Oba Otudeko, said amid the contrasting halves of the 2018 economy, the group’s businesses rose to the challenge to seek out new growth opportunities through product innovations and new business models.
    He said the company continued its pursuit of high standards in corporate governance during the year as the board ensured the provision of strategic direction and dedicated oversight to the businesses.

    He said, “During the year, the company took steps to maximise its investment in innovation by ensuring that benefits from rolling out new products, services and channels from the Digital Lab are extended to other entities within the group.
    “In 2018, the increased group-wide collaboration resulted in a remarkable achievement of N20bn in synergy revenues, representing three-year revenue synergy targets for the group between 2017 and 2019.”

    He said the company expected increased competition and changing industry dynamics in the financial services space due to the Central Bank of Nigeria’s guidelines on the licensing of Payment Service Banks in Nigeria, which would allow non-financial institutions such as telecommunication companies to provide basic services to customers for the first time.
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