This implies that in spite of about 43 per cent increase in dividend payout in 2022, the bank has a stronger prospect of sustaining such increased dividend payout, on the back of its enhanced earnings.
Managing Director, Fidelity Bank Plc, Mrs Nneka OnyealiIkpe said the 2022 performance reflected the banks continuing focus on its execution strategy, despite global and national macroeconomic headwinds.
She pointed out that improvements in the profitability of the bank was driven by a businesswide understanding of the key goals and strategies as the bank continued to prioritise investments in human capital and technology as enablers for growth.
With the congruence between its upward financial figures and ratios, Fidelity Bank appears to be justifying investors confidence in the bank.
In one of the highest return growths in the stock market, Fidelity Bank, which set a personal record with its first interim dividend in 2022, is increasing cash dividends payable to shareholders for the 2022 business year from N10.137 billion in 2021 to N15.7 billion in 2022.
According to regulatory filing at the Nigerian Exchange (NGX), shareholders, who received interim dividend of 10 kobo per share earlier in 2022, will receive a final dividend per share of 40 kobo, totaling a payout of 50 kobo for the 2022 business year as against 35 kobo paid for the 2021 business year.
The banks share price has seen further appreciation in 2023.
Profit and loss performance
Key extracts of the audited financial statement and accounts for the year ended December 31, 2022 showed a double in profitability, driven by strong growths in the topline and the structural balance of the banks operations.