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By Chinwendu Obienyi
Wema Bank Plc has confirmed that the payment of its approved 2024 dividend to its shareholders will commence on May 22 and will be made exclusively through electronic channels.
The bank in a corporate disclosure to the Nigerian Exchange Limited (NGX) signed by its company secretary, Johnson Lebile, stated that a final dividend of N1.00 for every ordinary share of 50 kobo each, subject to appropriate withholding tax and approval will be paid to shareholders whose names appear in the Register of Members as at the close of business on 1st day of May 2025.
While disclosing that the registration of shareholders will close from 2nd of May to 7th of May 2025, the bank stated that shareholders whose names appear on the register as of the close of business on May 1, 2025, and who have completed the e-dividend registration process, will receive their payments directly into their bank accounts on the scheduled date.
Wema Bank also urged shareholders who are yet to complete the e-dividend mandate forms to do so through their respective banks or the bank’s registrar, Greenwich Registrars & Data Solutions Limited, to ensure timely receipt of future dividend payments.
The digital disbursement aligns with the bank’s strategic focus on financial technology and service efficiency. Wema Bank, Nigeria’s pioneer in digital banking through its ALAT platform, continues to deepen innovation-driven services to enhance shareholder value.
The dividend payment follows the bank’s recent full-year 2024 earnings report, which showed sustained profitability and strong capital adequacy. The bank had announced a final dividend of N1.00 per share for the 2024 financial year, marking a 100 per cent increase from the previous year’s payout.
Hence, the dividend, totaling N21.43 billion, reflects the bank’s robust financial performance and commitment to delivering value to its shareholders.
