Ecobank Ghana announces dividend of 81 pesewas per share to its shareholders

Ecobank Ghana has announced a dividend of GH¢0.81 or 81 pesewas per share to all shareholders for the 2021 financial year.

This will however be subject to approval at the company’s Annual General Meeting (AGM) to be held on Friday, 10^th June 2022.

In a circular, the bank said all shareholders registered in the books of the bank at the close of business on Friday 20th May, 2022 will qualify for the final dividend.

In view of the foregoing, the bank said the ex-dividend date has been set as Wednesday, 18th May, 2022.

Consequently, an investor purchasing Ecobank Ghana shares before this date will be entitled to the final dividend.

However, an investor buying Ecobank Ghana shares on or after Wednesday, 18th May 2022 will not be entitled to the final dividend.

All things being equal, the final dividend will be paid from Friday, 1st July, 2022.

Ecobank registers 14% growth in pre-tax profit in 2021

Ecobank Ghana recorded a 14% year-on-year growth in profit before tax to ¢886.3 million in 2021.

According to its audited financial statement, growth in net interest income and net fees and commissions contributed to the bottom line.

Importantly, the balance sheet size expanded to ¢33.05 billion in 2021, compared to ¢29.38 billion in 2020. Total assets jumped from ¢15.2 billion in 2020 to ¢17.85 billion in 2021. Again, total liabilities also surged to ¢15.88 billion in 2021, from ¢13.49 billion, a year before.

In terms of the stability of the bank, the Capital Adequacy Ratio went up to 20.24% in 2021, as against 19.18% a year before.

Non-performing loans also surged to 12% in 2021 lower than the banking industry threshold, from 6.20% a year before.