March 15 (Lagos) - Access Bank Plc (
ACCESS ) reported full year financial results for 2018. Result was excellent with Earnings Per Share rising sharply by more than 50% to N 3.31 but acquisition of Diamond Bank plc (
DIAMONDBNK ) took its toll on the comprehensive income and net equity declined to N 490 billion in 2018 from N 511 billion in 2017.
Profit after tax rose to N 94.98 billion in 2018 from N 60 billion in 2017.
Dividend of 25 Kobo per unit has been proposed and this is likely to disappoint shareholders of
ACCESS who have witnessed a sharp fall in the stock price already since the merger with
DIAMONDBNK was announced. Shares of
DIAMONDBNK have soared since then.
April 11 is qualification date while April 25th is the payment date for the dividend.
reporting for easykobo.com on Thursday, March 15 2019 from Lagos, Nigeria