By Abubakar Yunusa,Abuja
Fidelity Bank Plc has approved a dividend of 35 kobo to be paid to its shareholders for the full-year period ended December 2021.
This was passed as a resolution at the recently concluded 34th Annual General Meeting held on Thursday, May 5, 2022.
This information was disclosed in a notice signed by the company’s secretary, Ezinwa Unuigboje and filed with the Nigerian Exchange Group (NGX).
The resolution states that “a dividend of 35 kobo per ordinary share of 50 kobo each amounting to N10,136,904,992.20 (Ten Billion One Hundred and Thirty-six Million, Nine Hundred and Four Thousand, Nine Hundred and Ninety-two Naira, Twenty Kobo only) with respect to the 2021 financial year be and is hereby approved”.
The qualification date for the Register of Members will be communicated duly to shareholders, as well as the date of payment.
Other resolutions passed at the 34th Annual General Meeting include:
The election of Mrs. Morohunke Adenike and Mr. Stanley Chiedoziem Amuchie as Independent Non-Executive Director and Executive Director, respectively.
The re-election of Mr. Mustafa Chike-Obi, Alh. Isa Inuwa, Engr. Henry Obih as Non-Executive Director.
The re-election of Mr. Mustafa Chike-Obi, Alh. Isa Inuwa, Engr. Henry Obih as Non-Executive Director.
That Non-Executive Directors’ remuneration for the financial year ended December 31, 2021, and succeeding years until reviewed by the company is hereby fixed at N31,000,000 for each Non-Executive Director and N40,000,000 for the Chairman of the Board of Directors.
Naira hits N600/$1 at peer-to-peer market as FX supply falls at official window
The exchange rate between the naira and the US dollar closed at N419/$1 at the official Investors and Exporters (I&E) window.
The exchange rate at the official window weakened against the US dollar on Monday to close at N419/$1 from N417/$1 recorded as of the close of trading activities in the previous week. A total of $53.15 million in FX value was traded on Monday, which is 39.89% lower than the $88.42 million traded on Friday.
It is worth noting that the dollar supply on Monday represents the lowest in over a month, since 4th April 2022, when $42.39 million in FX value was traded.
Meanwhile, the exchange rate at the parallel market remained stable at N590 to a dollar. This is according to information obtained from BDCs operating in Nigeria.
On the other hand, naira fell significantly against the US dollar on Tuesday morning at the peer-to-peer market, trading at N600.5/$1 compared to N594/$1 recorded as of the same time the previous day.
Nigeria’s external reserve depreciated by 0.15% on Friday, 6th May to stand at $39.31 billion, compared to $39.37 billion recorded as of the previous day. The decline in the external reserve level can be attributed to the continuous intervention by the Central Bank in the FX market in order to ensure the stability of the local currency.
At the official NAFEX window,naira started the week on a negative note with a 0.48% depreciation at the I&E window to close at N419/$1 in comparison to N417/$1 recorded on Friday last week.
The opening indicative rate closed at N417.75/$1 on Monday 9th May 2022, which is 15 kobo lower than the N417.9/$ recorded in the previous trading session.
Furthermore, an exchange rate of N423/$1 was the highest rate recorded during intra-day trading before it settled at N419/$1, while it sold for as low as N410.84/$1 during intra-day trading,
A total of $53.15 million was traded in FX at the official Investors and Exporters window on Monday.
According to the data from the FMDQ, forex turnover fell significantly to a one-month low, declining by 39.89% from $88.42 million recorded on Friday, 6th May 2022 to $53.15 million on Monday.
