Standard Chartered Bank Declares GHS 2.94 Per Share Final Dividend for 2023

Standard Chartered Bank (SCB) has declared a final dividend of GH¢2.9454 per share for the 2023 financial year, a decision ratified by the board and shareholders.

The date for eligibility for dividend payment is set for Wednesday, September 4, 2024, ensuring that only those on the register by the close of business on that day will receive the dividend.

Investors should note the ex-dividend date of Monday, September 2, 2024, as shares purchased on or after this date will not qualify for the payout.

The bank’s shareholder register will be closed from September 5 to September 6, 2024, with payment of the dividend scheduled for Monday, September 30, 2024.

The dividend payment by SCB underscores its commitment to returning value to shareholders, the dividend payment reflects strong financial performance and signals confidence in the bank’s future prospects, aligning with its long-term strategy of sustainable growth and shareholder returns.

Standard Chartered Bank for the 2023 financial year reported the following results:

– Income growth of 42 percent over the previous year to GH¢1.72 billion.

– Operating cost was at GH¢582 million which is 33 percent over the prior year.

– While we took a huge impairment charge of GH¢1.16 billion in 2022 as a result of the Domestic Debt Exchange Programme (DDEP), we had a release of GH¢220 million in 2023.

– This culminated in a profit before tax of GH¢1.36 billion compared to a loss of GH¢381 million in 2022.

The Bank continues to maintain a very strong balance sheet, is liquid, and well-capitalised.

Source:norvanreports.com