By Financescape
Following the proposal of the Board of Directors of Stanbic IBTC Holding Plc for payment of N1.00 (one naira) Interim Dividend for the Half-year 2019, The company has announced that Shareholders entitled to receive the N1.00 (one naira) Interim Dividend declared by Directors, have a choice of receiving these dividends, either in cash or may elect to receive them as new ordinary shares, Where a shareholder elects to receive the whole or a part of his or her dividends by way of new ordinary shares, then such scrip dividend shall only be allotted after receipt of any required regulatory approval and shall apply to shareholders whose names were on the Register of Members as at the qualification date for the payment of such dividend
In order to be valid, any scrip dividend election by shareholders must be made to the company’s Registrars not later than seven days prior to any dividend payment date, qualification date is Wednesday 04 September 2019 while payment date will be on October 3, 2019.
The reference price to be used in determining any scrip dividend allotment shall be the volume-weighted average price (VWAP) of the company’s shares on The Nigerian Stock Exchange (The NSE) for the five business days commencing on the day the ordinary shares are first quoted ex-dividend. With respect to the one naira (N1.00) Interim Dividend indicated above, the reference price for determining the scrip dividend allotment is N35.86 (thirty-five naira eighty-six kobo).
Shareholders, who wish to receive their One Interim Dividend by way of new ordinary shares, can either download the Scrip Dividend Election form herehttps://thevault.exchange/?get_group_doc=635/1568280484-2019HalfYearScripDividendFormofElection.pdf
Shareholders can also obtain a copy of the form by contacting either the Group Company Secretary
Email: chidi.okezie@stanbicibtc.com or Idris Toriola, Email: idris.toriola@stanbicibtc.com or by contacting the Registrars: First Registrars and Investor Services Limited on Tel: +234 1 2701078-9. All completed forms must reach the Registrars on or before the close of business on Thursday 26 September2019.
Shareholders who however elect to receive their dividends in cash are not required to take any action as they will have their bank accounts (in the case of shareholders with the appropriate e-dividend mandate) credited on the dividend payment date.
