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Skye Bank Pays N3.96b Dividend to Shareholders

Skye Bank Plc has paid the sum of N3.96 billion as dividend to its shareholders, translating to 30 kobo per share for the year ended December 31, 2013.

The chairman of the bank, Mr. Olatunde Ayeni, disclosed this on Wednesday at the 8th annual general meeting of the bank held in Lagos. He said the dividend payout was in tandem with bank’s commitment of delivering value to the shareholder in appreciation of their support at all times.

The bank chairman assured the shareholders that the bank would not misplace the confidence they reposed in the board and management, saying the bank would continue to add value and make their investment in the bank worthwhile.

“In 2014, the board assures shareholders that all efforts would continue toward implementing the bank’s plans in the medium term and well into the future. The quest to provide the most efficient customer service, as espoused in the service charter, remains unchanged”, he said.

The Managing Director/Chief Executive Officer designate of the bank, Mr. Timothy Oguntayo, told shareholders that the bank’s capital raising exercise had started to gather momentum and is expected to continue in 2014 to enhance the sustained growth of the bank.

He expressed optimism about the bank’s appreciable growth in the current year as the bank continued with the implementation of its strategy while increasing its customer base and market share.

It will be recalled that Skye Bank Plc recorded a profit before tax of N17.136 billion for the financial year ended December 31, 2013, representing an increase of 3.79 per cent over
the N16.510 billion recorded during the corresponding period in 2012.

According to the International Financial Reporting System’s (IFRS) compliant result submitted to the Nigeria Stock Exchange recently, the bank’s profit after tax rose significantly to N16.023 billion compared with N12.644 billion posted in the previous year, showing an improvement of 26.7 per cent.


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