The shareholders of Fidelity Bank Plc have unanimously endorsed the payment of a cash dividend of 22 kobo per share for the year ended December 2020.
This translates to a dividend yield of 9.2 per cent making it the 4th most rewarding bank for investors in the Nigerian Capital Market. The dividend was approved at the 33rd Annual General Meeting (AGM) of the bank held in Lagos on Friday.
Shareholders who spoke at the event praised the Board of Directors and the management team for the 38.7 percent increase in total customer deposits, which rose to N1.699 trillion in 2020 from N1.225 trillion in 2019, driven by strong double-digit growth in both local and foreign currency deposits.
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