Fidelity Bank’s fiscal year ending in 2023 saw a substantial surge in profit before tax to N124.3 billion, marking a significant 131.5 percent increase from the previous year. The announcement of a final dividend payment of 60 kobo per share, resulting in a total dividend payout of 85 kobo per share, Yielding a 92.65% increment. Reflects Fidelity Bank’s commitment to creating value for shareholders.
The sustainability of Fidelity Bank’s dividend policy hinges on future earnings growth, capital adequacy, and regulatory requirements.
Fidelity Bank’s robust financial performance positions it favorably to meet the new Central Bank of Nigeria (CBN) policy requiring banks to maintain a minimum of N200 billion in capital buffers.
Overall, Fidelity Bank’s exceptional financial performance underscores its resilience, adaptability, and commitment to driving sustainable growth in the Nigerian banking sector, promising attractive returns for investors.
For a broader analysis on the Fidelity bank annual report 2023, here.
