Guaranty Trust Holding Company Plc (GTCO) has announced that shareholders will receive a final dividend of N7.03 per share on April 24, 2025, subject to approval. This disclosure was made in a corporate filing on the Nigerian Exchange Limited (NGX) on Wednesday.
According to the financial institution, only shareholders with valid holdings as of April 15, 2025, will be eligible for the dividend payout. “A final dividend in the sum of N7.03 per ordinary share of 50 kobo, subject to appropriate withholding tax deduction and approval, will be paid to shareholders whose names appear in the Register of Shareholders as at the close of business on April 15, 2025,” the company stated.
With this latest announcement, the total dividend for the 2024 financial year stands at N8.03 per share, a significant increase from the N3.20 per share paid in 2023. The directors had earlier proposed an interim dividend of N1.00 per share, payable to shareholders listed in the company’s register as of the closure date.
GTCO also disclosed that the dividend will be paid electronically to shareholders who have completed their e-dividend registration and mandated their registrars to deposit dividends directly into their bank accounts.
The company’s Annual General Meeting (AGM) is scheduled for April 24, 2025, the same day as the dividend payment. During the meeting, shareholders are expected to give final approval for the dividend payout and discuss other company matters.
The financial giant recorded a strong performance in the 2024 financial year, reporting a profit before tax of N1.27 trillion. This represents an impressive 107.8% increase compared to the N609.31 billion posted in 2023. Profit after tax also surged by 88.6% to reach N1.02 trillion, up from N539.66 billion in the previous year.
GTCO’s strong financial results have further strengthened its market position, reinforcing investor confidence and signaling robust growth prospects for the institution. The company’s ability to more than double its pre-tax profit highlights its effective management strategy, resilience, and ability to navigate economic challenges.
Market analysts attribute the stellar financial performance to a combination of improved interest income, cost efficiency, and strategic business expansion. The increase in dividend payments reflects the company’s commitment to rewarding shareholders amid its rising profitability.
GTCO’s stock has also responded positively to the impressive financial results. The Nigerian stock market recently saw an uptick in banking sector stocks, with GTCO’s dividend declaration contributing to investor optimism.
The company’s management remains focused on sustaining growth momentum, with plans to strengthen its operations and expand into new financial markets. Stakeholders and investors are keenly watching for further strategic moves that could boost GTCO’s profitability in the coming years.
