GCB announces 25 pesewas per share dividend to shareholders

Ghana’s second largest bank, GCB Bank has announced a dividend of 25 pesewas per share to shareholders for the 2020 financial year.

According to a circular from the Ghana Stock Exchange, all shareholders registered in the books of GCB by Friday, May 21, 2021 will qualify for the final dividend.

In view of the foregoing, the ex-dividend date has also been set as Wednesday, 19th May, 2021. Consequently, an investor purchasing GCB shares before this date will be entitled to the final dividend. However, an investor buying GCB shares on or after Wednesday, 19th May, 2021 will not be entitled to the final dividend.

The final dividend will however be paid on Friday, June 18, 2021.

GCB records modest 4.39% profit in 2020

GCB Bank recorded a modest growth in earnings for last year, as profit shot up by 4.39% to GH¢439 million.

According to its 2021 Audited Financial Statement for last year, GCB recorded a significant loan loss of GH¢219 million last year, largely due to the coronavirus pandemic, which compelled the bank to restructure some loans. 

That impacted on its total income despite recording significant growth in all its income lines.

Net interest income grew by 22% year-on-year to GH¢1.4 billion, whilst trading income also shot up by 17.5% year-on-year to GH¢166 million.

Source: Joy Business

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