GTBank and Access Bank have both informed the Nigerian Stock Exchange (NSE) that they will be releasing their half year results behind schedule.
In a statement made available to the NSE on 18 July, GTBank says its Board of Directors will have a meeting on 27 July to review and approve the half year results for the period ended 30 June. The Board will also discuss issues concerning interim dividend to shareholders. GTBank has traditionally paid interim cash dividend and shareholders will be expecting that it will do the same this year.
But the bank says half year results, which will be audited, will also be submitted to the Central Bank of Nigeria (CBN) for its review and approval before it is finally submitted to the NSE and released to the public. The bank therefore says that its financial results will be released on or before 30 September. The bank’s share priced closed at N22.59 on 18 July. It is up 24.3% since the beginning of the year, making it one of the best performing stocks.
Access Bank has also, in a letter sent on 14 July, informed the NSE that its Board of Directors will be meeting on 28 July to review and approve its half year financial statements for the six months ended 30 June. The bank usually audits its half year financial statements.
The audited results will then be sent to the CBN for final approval before it is sent to the NSE. Access Bank expects the whole process to be completed no later than 31 August and the results made public.
Access Bank also has a tradition of paying interim dividends. Access Bank’s share price closed at N5.58 on 18 July. The company’s share price has risen 15.1% since the beginning of the year.
