The directors of NPF Microfinance Plc have proposed a dividend of 15k per share for the 2014 financial year, following the release of its financial statement for the year.
The dividend is 50 per cent or five kobo higher than the 10 kobo per share dividend NPF Microfinance Bank paid for 2013.
The bank said in a statement made available to our correspondent on Monday that its performance in 2014 exceeded its projections on all fronts.
In the year under review, its total assets rose by 25.17 per cent year-on-year to N10.8bn.
The gross earnings grew by 10.37 per cent to N2.134bn and despite the harsh economic conditions – – the devalued naira, liquidity squeeze and falling oil prices – – that characterised most of 2014, the bank’s profit before tax jumped by 20.59 per cent from N512m in 2013.
Its profit after tax at N477.8m was 22.10 per cent higher year-on-year, while basic earnings per share stood at 21 kobo for 2014, compared to 17 kobo for 2013.
According to the management, it curtailed operating expenses during the year as the opex figure of N1.387bn was just 3.6 per cent higher than the 2013 figure. The return on equity for 2014 was 11.71 per cent, compared with 9.9 per cent a year earlier.
NPF Microfinance Bank, which is quoted in the main board of Nigerian Stock Exchange, has promised investors that it will surpass the performance in the 2015 financial year.
This, according to it, is because the management is poised towards increasing all their sources of income while actively watching the expense outlets.
The bank has been paying dividend consecutively for the past 16 years.
No comments:
Post a Comment