Wema Bank Plc in its financial report for the year ended 31 December, 2019 proposed final dividend of 4 kobo to its shareholders.
In the audited financial statement released on the website of the Nigerian Stock Exchange on Wednesday, April 22, 2020, Wema Bank reported gross earnings of N94.89 billion, up by 32.66% when compared to the gross earnings of N71.53 billion in 2018 year end.
The firm reported a profit before tax of N6.76 billion, up by 40.90% from N4.798 billion reported in 2018.
Profit after tax grew by 56.32% to settle at N5.2 billion from the profit after tax of N3.33 billion in 2018 year end.
Earnings per share of the bank grew to 13 kobo from 9 kobo reported in full year 2018, indicating a growth of 56.32%.
With reference to the share price of N0.55, the P.E ratio of Wema Bank is calculated as 4.08x with earnings yield of 24.51%.
The Bank proposes a dividend of 4kobo to its shareholders subject to appropriate withholding tax. This will be presented for ratification by the shareholders at the Annual General Meeting.