Management of Ecobank Ghana has decided not to pay dividends to shareholders of the bank for last year. This forms part of moves by the bank to plough back its capitalized income surplus into stated capital to enable them, among other things, meet the 400 million capital requirement.
The bank has, however, assured shareholders that it will be issuing bonus shares in addition to capital gains made on stocks of 53 percent in February 2018. Speaking at the bank's Annual General Meeting (AGM), board chairman of the bank, Terance Darko, assured shareholders that the bank will employ more innovative ways of becoming a leading market in the banking industry.
"We are unable to pay a cash dividend for the year 2017. We will, however, be issuing bonus shares of one share for every ten held which in addition to the capital gains made on our stocks of 53 percent as at February 218, is a big boost to shareholders," he stated.
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