Herbert Wigwe, Access Bank CEO, to Earn N1.1 Billion in Dividends

Herbert Wigwe, Access Bank CEO, to Earn N1.1 Billion in Dividends

  • The Managing Director and Chief Executive Officer of Access Bank, Herbert Wigwe will earn over N1 billion as dividend from the bank
  • Wigwe holds direct and indirect shares in the bank amounting about 537.73 units of Access Bank shares through various companies
  • According to a statement, the shares will be in a electronic form to shareholders whose names appear on the Register of members

The MD/ Chief Executive Officer of Access Bank, Herbert Wigwe will earn a whopping N1.1 billion in dividends from the bank, both from direct and indirect investment.

The bank giant declared its final dividend per share of 70 kobo which follows the 30 kobo published as a temporary dividend in the half-year period of 2021.

Access Bank MD/CEO, Herbert Wigwe
Access Bank MD/CEO, Herbert Wigwe
Source: UGC

One of the biggest shareholders by direct and indirect holdings

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Wigwe will now earn N140.86 million from his shares and 921.63 million from indirect shares, which brings the total to N1.1 billion.

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By December of 2021, Wigwe holds 1.52 billion units of shares in Access Bank which accounts for 4.6 per cent of the whole shares listed on the stock exchange. He controls 201.23 stakes directly and 1.32 billion unites of the stakes through third parties.

His holdings, when broken down, show that he controls 537.73 million units of Access Bank’s shares through United Alliance Company, 584.06 million stakes via Trust and Capital of Nigeria, 584.06 million stakes through Trust and Capital Limited, and Coronation Trustees Tengen, Mauritius accounting to 194.83 million shares.

How the shares will be paid

In all, including the N455.36 million he earned from the interim dividend paid in the half-year of 2021, Wigwe will earn a total of N1.52 billion as total dividend for the fiscal year ended 2021 which is about 25 per cent higher than the N1.21 billion he earned in 2020.

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A statement by the bank says the shares will be paid in electronic form on April 28, 2022, to stakeholders whose names appear on the Register of Members as of April 19, 2022.

The statement said the register will be closed on April 20, 2022.

Dangote Cement, MTN shareholders cash out big, firms lead best-paying dividend organisations in 2021

Legit.ng has reported that stakeholders of the leading cement manufacturing company, Dangote Cement and MTN, Africa’s leading telecom company, are smiling to the bank as the companies emerged as the best dividend-paying companies in 2021.

Available statistics say that Nigerian firms paid a total of N989 billion as dividends from January to September this year. This represents a 27 per cent spike from the same period last year.

Among them are 30 of some of the most capitalised companies on the Nigerian Stock Exchange which paid shares this year and in 2020.

Source: Legit.ng

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