Investment Returns GH¢100.7 million dividend for GCB shareholders

GCB boom in dividends for shareholders

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For the year ending 2016, shareholders of the Ghana Commercial Bank would be receiving GH¢100.7 million as dividend following a blossom year for the company.

The amount represents a dividend per share of GH¢0.38 approved at the Annual General Meeting of the bank, a 15% increase from the GH¢0.33 rate paid in 2015 to shareholders.

Mr. Jude Arthur, Board Chairman of the Bank also confirmed that the dividend rate was carefully assessed and accepted per the cash dividend practice of the Bank.

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Having recorded a net profit of GH¢318 million, the bank made a 25% increase in profit margins compared to that of 2015.

According to the Chairman, the Bank generated a total operating income of GH¢1.1 billion in 2016 compared to GH¢863 million recorded in 2015. Total assets of the Bank grew by 30 per cent (GH¢1.4 billion) in 2016 to close at GH¢6.1 billion from GH¢4.7 billion recorded in 2015.

The Chairman expressed his confidence in the staff to taking the performance of the company a notch higher this fiscal year.

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As part of giving back to the society, the company invested in its corporate social responsibility GH¢2.8 million in bettering the lives of people in Ghana.

“We should be encouraged by the progress made in recent years and be hopeful that the Bank would remain competitive and viable,” he said.

The customers of the bank and beneficiaries of the dividend congratulated the bank for their success and urged them on to increase their performance this year.