Shareholders of Guaranty Trust Holding Company Plc (GTCO) have approved a total dividend of N8.03 per share for the 2024 financial year—marking another year of strong performance for the group.
At the fourth annual general meeting held virtually, shareholders ratified the board’s proposal to pay a final dividend of N7.03 per share, following an interim payout of N1.00 earlier in the year.
Addressing stakeholders, GTCO Chairman, Mr. Hezekiah Sola Oyinlola, said 2024 was a landmark year, as the group became the first Nigerian bank to exceed N1 trillion in profit before tax.
“This achievement reflects the resilience of our business model, the commitment of our people, and the trust our customers place in us,” Oyinlola said. He added that GTCO’s continued success was anchored on operational discipline, strong risk management, and customer-focused innovation.
Group CEO, Mr. Segun Agbaje, described the year as transformational, highlighting a 81.1% rise in gross earnings to N2.15 trillion, up from N1.19 trillion in 2023.
Agbaje said the group completed the first phase of its recapitalization plan, raising N209.41 billion through a public offer that expanded GTCO’s shareholder base from 332,000 to over 460,000. A second round—targeting foreign institutional investors—is planned for 2025.
As part of succession planning, Mr. Suleiman Barau, a former Deputy Governor of the Central Bank of Nigeria, has been nominated as incoming Group Chairman, pending regulatory approval.
Shareholders commended the board for its leadership and resilience in a difficult economic environment.
