The Board of Directors of Wema Bank has announced a final dividend of 4 kobo for 2020 financial year, subject to appropriate withholding tax and approval which will be paid to shareholders whose names appear in the Register of Members as at the close of business on the 12 th day of May 2021.
Wema Bank in its Audited Financial Statement for the year ended 31 December 2020 reported the Gross Earnings of N81.38 billion, down by 14.23% from N94.89 billion reported the previous year.
Profit after tax reported for the 12 months period was N4.577 billion, down by 11.97% from N5.2 billion reported in FY 2020.
Earnings per share dropped to 12 kobo from the EPS of 14 kobo achieved in year 2020.
At the share price of 57 kobo, the P.E ratio of Wema Bank Stands at 4.80x with earnings yield of 20.82%.
Qualification date for dividend is 12th of May 2021. The Register of Shareholders will be closed on May 13, 2021 to May 19, 2021.
On May 25, 2021, dividends will be paid electronically to shareholders whose names appear on the Register of Members as at May 12, 2021 and who have completed the e-dividend registration and mandated the Registrar to pay their dividends directly into their bank accounts.