January 30, 2023

These 4 billionaires will earn about N1.2 billion from interim dividends in the first half of 2021
Investors in the equity market are usually excited to hear the word ‘’dividend.’’ To most of them, it connotes the fruit of their labour and reward for their investments. One fascinating thing about dividends is that the more shares you own, the more money you are guaranteed to receive every time dividends are declared.

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Amid the challenges and positives in the economy, it is pertinent to note that companies have continued to leverage the various intervention schemes rolled out by the government, thereby contributing to the massive profits declared by some of these companies and a subsequent dividend declaration. Just recently, the Nigerian Exchange Limited (NGX) announced that about 58 companies operating across ten (10) different sectors had paid out a total of N732.91 billion as dividends, year-to-date (YTD). The financial sector led the pack with the highest number of companies (21) that paid dividends during the period under review.

However, the aforementioned amount and information were for the year-to-date period. Equally interesting is the fact that a host of leading financial institutions had declared interim dividends for the recently concluded half-year period (H1, 2021). In light of this, Nairametrics compiled the list of how much notable bank CEOs will earn from the dividend windfalls for the H1 2021 period.

 

Segun Agbaje

As of 30th of June 2021, Mr Olusegun Agbaje owned a total of 41,628,001 units of shares in Guaranty Trust Holding Company. The breakdown revealed that he owns a direct share of 32,146,651 units and an indirect share of 9,481,350 units.
With the declaration of an interim dividend of 30 kobo per share, the astute banker will earn the sum of N9.64 million from his direct shareholdings. Mr Agbaje alongside other shareholders will be credited on October 12, 2021.
It is also worth noting that Agbaje moved to the position of Group CEO of GTCO in July after the restructuring of the bank, while the bank’s MD position is now occupied by Mrs Miriam Olusanya.

Tony Elumelu

The Chairman and founder of the United Bank for Africa owns a total of 2,380,941,756 units of shares in the Pan-African Bank. The breakdown of these figures showed that he owns a direct share of 195,007,572 units and a further 2,185,934,184 units of indirect shares in the bank.

 

With an improved interim dividend of 20 kobo per share for the H1 2021 period (17 kobo: H1 2020), the astute banker will earn a sum of N39 million as interim dividends from his direct shareholdings for the period under review. The dividends will be disbursed electronically on the 30th of September, 2021.

UBA declared an improved interim dividend of 20 kobo per share, largely due to its impressive half-year financial result, where it recorded a 36.3% increase in its bottom line.
As of the period of filing this report, UBA was trading at N7.40.

Herbert Wigwe

Access Bank declared an interim dividend of 30 kobo per share, up by 20% when compared to the amount declared in the corresponding period of last year (H1 2020: 25 kobo). This increase is largely attributed to the impressive financial performance recorded by the financial giant during the just concluded half-year period, where its key financial metrics including its bottom line recorded double-digit growth of 42% YoY.
Herbert Wigwe has a direct holding of 201,231,713 and an indirect holding of 1,316,619,016 shares in the bank. Given the recent dividend declaration, he will earn the sum of N60.37 million from his direct shareholdings.

The dividend which is subject to appropriate withholding tax will be disbursed to him on the 29th of September, 2021.
Access Bank Plc is currently trading at N9 per share on the NGX.

Jim Ovia

As of 30th of June 2021, Jim Ovia who was once referred to by Forbes Africa as ‘’The Godfather of Banking in Nigeria,’’ owns a total of 5,074,104,311 units of shares in Zenith Bank Plc, comprising of both direct and indirect holdings.
The breakdown of his shareholdings showed that he owned about 3,546,199,395 units of direct shares and a further 1,527,904,916 units of indirect shareholdings in the bank.
With Zenith Bank retaining its interim dividend pay-out of 30 kobo per share for the 2021 half-year period, the banking mogul received a pretty sum of N1.06 billion as dividends from his direct shareholdings for the period under review.
The dividend which is subject to appropriate withholding tax has been disbursed on the 20th of September, 2021. At the time of reporting this, Zenith Bank was trading at N23.50 per share on the floor of the Nigerian Exchange Limited (NGX).

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