AGM: AuchiMicrofinance Bank to pay 5Kobo Per Share as Dividend to Shareholders





By Moshood Karim O
 AUCHI- The board of the Auchi Microfinance Bank has announced that the bank will pay a dividend of 5 kobo per share representing N3.37 million and seven kobo bonus per 100 shares representing N4.72millionto its shareholders for the 2015 financial year.
The Chairman of the bank, Alhaji Hassan Momodu announced the proposed dividend to shareholders at the 18th Annual General Meeting of the bank held in Auchi. He explained that the bank had not been able to pay its shareholders dividend in the past two years due to business challenges.
Momodu told the shareholders that during the financial year the gross earnings of the bank stood at N119.9million against N97.4million it realized in the previous financial year, while earnings per share rose to 53.3 kobo, return on asset (Pretax) was 7.05kobo
According to him, total assets of the bank rose toN525.9million in 2014 from N312.1 million it was in 2013.
On the bank’s growth plan, the Chairman said: “we will seek innovative ways of serving our customers better by providing cost effective, convenient and efficient ways for customers to access services and for the safety of their funds.
“Our strategic plan is on course and our resolve to deliver long-time value to our shareholders remains unshaken. We promised that our effort to deliver in this coming financial year will surpass this year’s result.” He stressed.

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