Ecobank Transnational Incorporated (ETI) has announced that the Company’s Directors will be recommending to the shareholders at the upcoming Annual General Meeting the payment of a final dividend.
Ecobank Transnational Incorporated, meanwhile disclosed that there will be payment of a final dividend of 0.11 US cents per share, subject to appropriate withholding tax and approval for the 2022 financial year.
With regards to the Qualifying Date, the bank noted that all shareholders registered in the books of ETI at the close of business on Thursday, May 25, 2023, will qualify for the final dividend.
However, ETI said the register of shareholders will be closed from Friday, May 26, 2023, to Thursday, June 1, 2023. (Both dates inclusive)
Ex-Dividend Date
In view of the foregoing, Ecobank Transnational Incorporated indicated that ex-dividend date has been set as Tuesday, May 23, 2023.
Consequently, an investor purchasing ETI shares before the above date will be entitled to the final dividend. However, an investor buying ETI shares on or after Tuesday, May 23, 2023, will not be entitled to the final dividend.
The final dividend if approved will be paid on Tuesday, June 6, 2023 at Annual General Meeting. Moreover, ETI announced for the information of the general investing public that its Annual General Meeting will be held in Lomé, Togo on May 17, 2023, at 10:00GMT.
Ecobank Transnational Inc. is a pan-African banking conglomerate, with banking operations in 33 African countries. It is the leading independent regional banking group in West Africa and Central Africa, serving wholesale and retail customers.
The company maintains subsidiaries in Eastern Africa and Southern Africa. ETI has representative offices in Angola, China, Dubai, France, South Africa and in the UK. In December 2011, Bank of Ghana gave approval for Ecobank to acquire 100% interest in The Trust Bank (TTB).
Ecobank Transnational Incorporated is listed on the Ghana Stock Exchange (GSE) and is traded on the GSE under the ticker symbol “ETI”. The International Securities Identification Number (ISIN) of GSE:ETI is TG0000000132. Ecobank Transnational Incorporated is currently the fourth most valuable stock on the GSE with a market capitalization of GHS 3.61 billion, which makes about 5.32% of the Ghana Stock Exchange equity market.
The current share price of Ecobank Transnational Incorporated (ETI) is GHS 0.15, which saw no gain or loss in the final trading session of last week (Friday, March 31, 2023).
Ecobank Transnational is the 11th most traded stock on the Ghana Stock Exchange over the past three months (Dec 30, 2022 – Mar 31, 2023). ETI has traded a total volume of 102,288 shares valued at GHS 15,343 over the period, with an average of 1,624 traded shares per session. A volume high of 30,000 was achieved on February 3rd for the same period.
Performance of GSE on the Final Weekday
At the end of the final weekday of trading on the local bourse, a total of 1,232,288 shares, corresponding to a market value of GHS 1,626,309.34, were traded. Compared with the previous GSE trading day (Thursday, March 30), Friday’s data showed 24% improvement in turnover. The current market capitalization of the Ghana Stock Exchange is GHS 67.8 billion.
In the aggregate, 16 GSE listed equities participated in trading, ending with three gainers and just one loser. Benso Oil Palm Plantation led the gainers with 9.99% share price appreciation closing at GHS 11.67 per share, followed by MTN Ghana (+2.46%) and Unilever Ghana (+1.01%). The only equity that lost value on the day was Fan Milk (-9.79%).
MTN Ghana recorded the highest volume of 1.19 million traded shares, followed by Unilever Ghana (25,412), Fan Milk (5,881) and CAL Bank (4,468).
Regarding the performance of GSE market indices, the benchmark GSE Composite Index (GSE-CI) increased by 37.54 (1.39%) points to close at 2,745.33, representing a 1-week loss of 2.06%, a 4-week gain of 14.44%, and an overall year-to-date gain of 12.33%.
The GSE Financial Stocks Index (GSE-FSI) maintained its value at 1,806.67 points, making it a 1-week loss of 0.23%, a 4-week loss of 5.61%, and a year-to-date loss of 11.98%.
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