Jaiz Bank Is Set To Pay N884 Million As Dividend

Non-interest bank, Jaiz bank is set to pay investors the sum of N884 million in dividend for the period which ended in December 2020. This means that for every share, shareholders will earn 3 Kobo. There are 29,454,249,300 shares of the company outstanding and they're trading at N0.65 on the Nigerian Stock Exchange.

This was disclosed in a statement sent to the NSE and signed by Rukayat Dahiru, the company's secretary.

The dividend remains the same as last year despite the company's reported growth of 45 percent profit before tax, and 19 percent profit after tax, which translates to N2.9 billion. This dividend will be paid to all qualified shareholders in the Register of Members at the close of trading on the 10th of June, 2021. All shareholders are also expected to complete and submit e-dividend registration to their respective banks.

About The Company

Jaiz Bank Plc is a financial services institution that provides Islamic banking services for retail, commercial and corporate sectors. It was created out of former Jaiz International Plc, which was created in 2004, as the first full-fledged non-interest bank in Nigeria.

The bank's services include mainly working with transactional accounts and term savings, as well as working capital; real estate; and various forms of finance - personal, medical, education, and project finance.

Jaiz Bank also provides online banking, leasing, banking cards, and bonds and guarantees. With headquarters in Abuja, the bank also has 7 branches scattered across major cities and towns in be country. It aims to grow beyond the borders of Nigeria as an Islamic Bank that's Shari'a complaint. The bank however doesn't tolerate religious discrimination or bias.

Jaiz Bank(JAIZBANK) started the year with shares at N0.66 but has since lost 1.52% off that, making it rank 105th on the Nigerian Stock Exchange in terms of year-to-date performance.