November 28, 2022

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Jaiz Financial institution pays N1.38bn dividend to shareholders


Shareholders of Jaiz Financial institution Plc will obtain a complete of N1.38 billio dividend for the 12 months ended 2021, representing 4 kobo per peculiar share of fifty kobo every.

This was unanimously accredited by the shareholders on the tenth Annual Basic Assembly (AGM) of the Financial institution Tuesday in Abuja.

That is the third 12 months the Financial institution is paying dividends to its shareholders because it started dividend cost in 2019.

The rise within the dividend cost for the 12 months below evaluation was because of progress that the financial institution witnessed, Chairman of the Financial institution, Alhaji (Dr.) Umaru Abdulmutallab stated on the AGM.

He stated the notion of Jaiz model has continued to enhance with the “Financial institution being awarded the most-improved Islamic Financial institution on the earth by the UK based-GIFA for a second 12 months in a row.”

The Financial institution’s audited monetary outcomes for the interval ended 31 December 2021 confirmed a 43% progress in Revenue Earlier than Tax from N3.07billion in December 2020 to N4.37 billion in December 2021. That is on the backdrop of a rise of 31.76% in Gross Earnings from N19.61 billion realized in 2020 to N25.84 billion in 2021.

Equally, the financial institution’s complete asset grew by 19.55% from N233.60 billion to N279.28 billion whereas Shareholders’ Funds for the interval grew by 36.20%, from N17.85 billion to N24.31 billion.

Earnings per share for the interval elevated by 40.10% from 9.85 kobo in 2020 to 13.80 kobo in 2021.

Within the final couple of years, Jaiz Financial institution has persistently delivered outstanding outcomes, which clearly reaffirms its steady progress trajectory as some of the worthwhile banks in Nigeria.

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Additionally talking on the AGM, the Managing Director/CEO, Mr. Hassan Usman, stated regardless of the robust working local weather characterised by weak financial progress and the adverse affect of covid-19 pandemic, the Financial institution has achieved rather a lot when it comes to monetary stability.

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