20 June 2016
Content from our Premium Partner

Ecobank (Lome)

ETI Concludes 2016 AGM Declares Dividend of USD 48.2 Million

Photo: Ecobank
press release

Ecobank Transnational Incorporated (ETI), parent company of the pan - African Ecobank Group, today concluded its 28th Annual General Meeting (AGM) and a separate Extraordinary Meeting at the company’s head office in Lome.

ETI declared a dividend of USD 48.2 million. This key meeting outcome follows two years during which ETI did not declare a dividend. The general meeting approve d the company’s accounts for the 2015 financial year and the appropriation of its profits, which amounted to USD 60.77 million .

The meeting renewed the mandate of Dr. Daniel Matjila (representing Public Investment Company/Government Employees Pension Fund) for another three years. It also ratified the co - option of Messrs. Abdulla Al Khalifa (representing Qatar National Bank), A de Ayeyemi (Ecobank Group Chief Executive Officer) and Mfundo Nkuhlu (representing Nedbank Group Limited) as directors.

Mr. Ignace Clomegah and Mrs. Catherine Ngahu were elected as directors. The meeting approved there - appointment of joint auditors Delo itte Nigeria, and Grant Thornton, Côte d’ Ivoire for a term of a one - year term.

A separate Extraordinary Meeting saw various other resolutions passed. With regard to the consolidation of shares, a resolution was passed authorising that the nominal value of the ordinary shares of the company be increased from 2.5 US cents per share to 50 US cents per share. This would be done by consolidating every 20 ordinary shares held into one new ordinary share each, and issuing in replacement, new ordinary shares of 50 US cents each.

About Ecobank 

Incorporated  in  Lom é ,  Togo,  Ecobank  Transnational  Incorporated  (‘ ETI ’)  is  the  parent  company  of  the  leading  independent  pan - African  banking  group,  Ecobank.  It  currently  has  a  presence  in  36  African  countries,  namely:  Angola,  Benin,  Burkina  Faso,  Burundi,  Cameroon,  Cape  Verde,  Central  African  Republic,  Chad,  Congo  (Brazzaville),  Congo  (Democratic  Republic),  C o te  d ’ Ivoire,  Equatorial  Guinea,  Ethiopia,  Gabon,  Gambia,  Ghana,  Guinea,  Guinea  Bissau,  Kenya,  Liberia,  Malawi,  Mali,  Mozambique,  Niger,  Nigeria,  Rwanda,  Sao  Tome  and  Principe,  Senegal,  Sierra  Leone,  South  Africa,  South  Sudan,  Tanzania, Togo, Uganda, Zambia and Zimbabwe. The Group employs over 20,000 people in 40 different  countries in over 1,200 branches an d offices. Ecobank is a full - service bank providing wholesale, retail,  investment and transaction banking services and products to governments, financial institutions, multinationals,  international  organizations,  medium,  small  and  micro  businesses  and  in dividuals.

Additional information on Ecobank can be found at ecobank.com.

Media Contact :

 Richard Uku

Group Head, Corporate Communications

Ecobank Transnational Incorporated (ETI)

2365, Boulevard du Mono Lomé, Togo

Tél.: +228 22 21 03 03

Email :  ruku@ecobank.com

Twitter: @Group Ecobank or @richard_uku

Web : ecobank.com

Copyright © 2016 Ecobank. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 800 reports a day from more than 140 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.