STANBIC IBTC: HOW TO RECEIVE YOUR DIVIDEND AS SCRIP.

Stanbic IBTC PLC has released guidelines on how as shareholder in the company you can opt to receive the 5k per share dividend soon to be declared in the form of new shares in the company.

At an extraordinary general meeting held on August 6, 2015, it had been resolved that up to the year 2020 shareholders will have option of receiving their dividend outright in cash or re invest in the business and be entitled to new shares.

Ultimately, the intention is to retain as much as possible in the company as shareholders can afford to reinvest but it also has the likely impact of gradually increasing the % holdings of those shareholders liquid enough to let go.

So, if you would prefer to retain or even grow your own % holdings, your best option is to make the sacrifice and go for new shares instead of immediate cash.

According to a release yesterday by the Company secretary, Chidi Okezie, because the AGM likely to approve the dividend is coming up September 12, 2017, your decision to opt for scrip must reach the company before or by September 5 2017, that is Tuesday next week.

If you prefer cash dividend, don't worry. Do nothing and after the AGM you will be paid provided you were registered as a shareholder by April 13, this year.

The new shares are to be issued at N18.20 per share being the volume weighted average price at the Nigerian stock exchange.

To express your interest in the script or new shares, you are to download the relevant form from the Stanbic IBTC website; contact the company secretary through email chidi.okezie@stanbicibtc.com ; the registrars First Registrars and Investor services ltd or head, investor relations on +23414228501.

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