Access bank CEO, Herbert Wigwe set to earn N1.1 billion dividend

The MD and CEO Herbert Wigwe, of Access Bank is set to amass a whopping total of N1.1 billion in revenues from his explicit and subtle holdings in the bank ogre.

The tier-one bank asserted a conclusive revenue per stake of 70 kobo, heeding the 30 kobos asserted as temporary dividend in the half-year term of 2021. He is presently fixing to amass N140.86 million from his explicit merits and N921.63 million from his indirect holdings, summing up to N1.1 billion.

As of 31st December 2021, Mr. Herbert Wigwe holds 1.52 billion units of investments in Access Bank, reckoning for 4.6% of the aggregate amounts totaled on the stock exchange. He possesses 201.23 million stakes presently and 1.32 billion units of shares through third parties.

Further research of his possession reveals that he regulates 537.73 million units of Access Bank’s shares through United Alliance Company of Nigeria, 584.06 million investments through Trust and Capital Limited, and Coronation Trustees Tengen Mauritius (194.83 million shares).

Jointly with the N455.36 million the corporation mogul earned from the interim dividend paid in the half-year period of 2021, he will now receive a total of N1.52 billion as a total dividend for the financial 2021year, which is 25% higher than the N1.21 billion he received in the previous year.

Peak of dividend payment

In respect to the revelation released, the dividends will be paid electronically on 28th April 2022 to shareholders whose names emerge on the Register of Members as of 19th April 2022.

The Register of Shareholders will be closed on the 20th of April 2022.

Meanwhile, the epoch of the bank’s general meeting is slated for 28th March 2022.

How the bank executed in 2021

Access Bank matured its proceeds after tax by 51.13% year-on-year to N160 billion in 2021.

The Nigerian Lender accomplished N601.70 billion, from its lending job as Interest dividend grew by 22.99% from N489.22 billion.

The Bank, which set to transition into a holding corporation also evolved its stakes from prospects by a whopping 24.47% to N6.95 trillion.

Total possession rose to N11.73 trillion, further than twice the bank’s unlimited purchases as of 2018.