Banks’ boards to meet over H1 2020 dividend, results

The boards and managements of Zenith Bank Plc and Guaranty Trust Bank Plc (GTBank) are to meet this month via electronic channels to discuss interim dividends and approve half-year ended June 30, 2020 results.

GTBank

The electronic meeting by both financial institutions is coming on the heels social distancing policy of the government in a move to stop the spread of COVID-19.

The company secretary, Zenith Bank, Michael Otu in a statement to Nigerian Stock Exchange (NSE) said, “In line with listing regulations of the NSE for quoted companies, Zenith bank plc hereby informs its shareholders, the NSE and the investing public that the Board of Directors of the bank is scheduled to meet on Thursday July 23, 2020 to consider the Group’s audited financial statements for the half-year ended June 30, 2020.

“The meeting will also consider amongst others, the proposal for the recommendation of interim dividend for shareholders.

“Consequently and in line with the post-listing requirements of the NSE for quoted companies, Zenith bank plc hereby declares commencement of the closed period for trading in the Bank’s shares from July 6, 2020 in respect of the audited financial statements for the half-year ended June 30, 2020. The close period will run until 24 hours after the audited accounts is released to the public.

“Accordingly, no director, employee, person discharging managerial responsibility and adviser of the bank and their connected persons may directly or indirectly deal in the shares of the bank in any manner during the closed period.

“Please note that we are required to forward the audited Interim accounts and financial statements to the CBN for approval, prior to the release of the results on the floor of the NSE.

“We shall notify you of the decisions reached after the approval of the CBN is obtained. This notice is however subject to the restriction of activities’ imposed by the authorities in view of the COVID-19 global pandemic. Subject to the said restriction, attendance via electronic channels would be an option.”

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On its part, the Company Secretary, GTBank, Erhi Obebeduo in a statement to NSE said, “Pursuant to the post-listing requirements of the NSE for quoted companies, GTBank hereby informs you that the board of directors of our bank is scheduled to meet on Wednesday, July 22, 2020, to consider the audited financial statements for the half-year ended June 30, 2020. Issues relating to half-year dividend may also be discussed at the meeting.

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