First Bank Shareholders Commend The Board ,Ask for dividend

 

 

 

 

·         L – R ( A)  shows Mr. Aigboje Aig-Imoukhuede, President, The Nigerian Stock Exchange (NSE); Apostle (Dr.) Hayford Alile, OFR, Former Director-General, NSE and Mr. Oscar N. Onyema, OON, Chief Executive Officer, NSE; and Mr. Mohammed Jumba, Executive Director, Operations, Institute of Directors (IoD) Nigeria at the 12th Annual Pearl Awards, Public Lecture for Capital Market Development in Lagos

The shareholders of First Bank Plc has praised its board and management for their financial performance, just as they demanded for better dividend payout next year.

 

According to most of the shareholders the 15kobo dividend pay out by the bank for2015 accounting year is not befitting for a renowned institution like First Bank Plc.

 

As Sunny Nwosu of Independent Shareholders Association of Nigeria (ISAN) put it, “although  the 15kobo dividend which came after profit warning  by the bank was reassuring it is obvious that the bank  needs to work harder to improve returns.

 

For Nona Awo their is apparent  need to go for aggressive deposit mobilization in order to keep ahead of the game and make he bank more liquid.

 

In the views of Boniface Okezie, “we can say the storm is over. …Despite the economic  impediments and the profit warning by the bank we are still getting 15 kobo dividend”.

 

Dr Farouk Umar, commended the bank for investing in a Merchant bank and also praised it that its subsidiaries  are already  contributing  to its profit till.

 

Going further he condemned Financial Reporting Council of Nigeria (FRC) for planning to make accountants the sole individuals to chair Audit Committees of companies, saying that the move is in controvention of the CAMA.

 

Chairman of First Bank, Oba Otudeko who chaired the Annual General Meeting held at Eko Hotel & Suites,Lagos promised that the shareholders will have a better deal next year.

 

The Group Managing Director, U.K. Eke who released a letter to shareholders before  the AGM pledged that the bank would pay a bigger dividend next year, saying that it was the inpairments suffered by the bank that hindered its  profitability.

 

First Bank Ltd Managing Director, Dr. Adesola Adedantun who spoke at the event said the bank has mapped out strategies to improve its returns and that the bank is already on the right trajectary