Dividends - NEWS AGENCY OF NIGERIA

isaac aregbesola
Jun, Mon, 2025

TAJBank pays 3rd dividend in 5 years, as total assets grow by 84%

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By Kadiri Abdulrahman

TAJBank Limited, a fast growing non-interest bank, has sustained its feat in the nation’s banking history with the payment of 20 kobo per share dividend to its shareholders at the end of the 2024 financial year.

TAJBank’s Founder/CEO, Hamid Joda, said this in a statement on Monday in Abuja.

Joda explained that the payment was the third investment reward for the investors in its five years of operations.

According to him, available industry data on dividends paid to shareholders by most banks during the year under review showed that TAJBank’s dividend represented one of the best.

He said that the verdict was based on earnings per share, and in terms of dividend ratio to share value of banks nationwide.

”The major highlights of the TAJBank’s financial results showed that the bank’s total assets grew from N518.33billion in 2023 to N953.10 billion in 2024, representing 84 per cent growth year-on-year.

”Its Gross earnings also increased to N75.5 billion in the year under review from N43.2 billion in 2023, indicating 80 per cent growth,” he said.

Joda said that the bank also recorded impressive performance in its deposit base, which surged by 89 per cent, from N369.33 billion in 2023 to N696.34 billion in 2024.

“Profit Before Tax (PBT) grew by 61 per cent to N18.2 billion from N11.3 billion in the preceding year, among other impressive financial indices.

“With the payment of the third dividend to the shareholders within five years of operations, TAJBank’s Board and management have again demonstrated that investors’ interest remains a priority.

“The sterling performances of TAJBank clearly attest to the management’s proactive strategies and innovativeness in service delivery.

“I want to assure our investors that their interests will always be prioritised in our operations at all times,” he said.

The bank’s Co-Founder/Executive Director, Mr Sherif Idi, said that the payment of the third dividend was historic and aligned with the primary goal of TAJBank being in business.

According to Idi, this is to continually serve the interests of our shareholders, customers, and the public.

“We want to thank all our shareholders for contributing to the growth of the bank.

“We urge them to encourage their friends to invest in TAJBank as doing so will guarantee them sustained benefits”, he said.(NAN) (www.nannews.ng)

Edited by Isaac Aregbesola

TAJBank sets industry record, pays 2nd dividend in 4yrs

isaac aregbesola
Oct, Mon, 2024

Defence/Security

TAJBank sets industry record, pays 2nd dividend in 4yrs

762 total views today

By Ginika Okoye

TAJBank Limited, Nigeria’s fastest growing non-interest bank, has set a new record in the banking sector with the payment of dividends to its shareholders at the end of its half year ended June 2024.

The bank’s Chief Executive Officer, Mr Hamid Joda, who said this on Monday in Abuja, said this feat was the second in its 4th year of operations

According to him, the payment of the second tranche of dividends to its shareholders barely four years of TAJBank’s operations is historic.

”This is the first time such a feat is recorded in the over 100 years of banking services in Nigeria.

”With this milestone, the bank’s board and management are telling investors in Nigeria and outside the country that TAJBank will consistently add value to their investments.

”We will continue to reward them for their confidence in our bank, not only financially, but also in creating opportunities for them to grow their businesses and improve their wellbeing,” he said.

Joda also said that the bank gross earnings for half year (June) 2024 increased to N32.8 billion from N17 billion recorded in 2023 financial year.

He said that the amount represented 93 per cent increase over the preceding year’s earnings.

He said that the bank also paid 10 per cent cash as interim dividend to its shareholders in the half year under review, following the approval of the financial statements by the Central Bank of Nigeria (CBN).

Joda said that the bank shareholders’ fund also rose from N5 billion which is 20 per cent in 2019 to over N53 billion in June 2024, representing 960 per cent growth in the investors’ fund.

The bank’s Executive Director, Mr Sherif Idi, said that the financial performance in the half year 2024 demonstrated the bank’s resilience and its management’s zeal for excellence in all areas of its operations.

”Let me emphasise here that we are very grateful to all the shareholders and urge them to always support the board and management in their sustained efforts to transform TAJBank to the foremost non-interest bank in Africa,” he said.

The News Agency of Nigeria (NAN) reports that TAJBank had in 2022 financial year raised its earnings per share from N31.06 kobo to N65.40k per share, indicating 114.56 per cent on improved returns on investments.(NAN) (www.nannews)

Edited by Kadiri Abdulrahman