Shareholders have hailed GTCO’s profitability and shareholders’ value following their approval of a total dividend payout of N8.03 per share for the financial year ended December 31, 2024, marking a historic milestone for the leading financial services group.
GTCO had earlier distributed an interim dividend of N1.00 per share and will now pay an additional N7.03 per share as the final dividend, solidifying its position as a standout performer in Nigeria’s financial sector.
Addressing shareholders at a virtual AGM held recently, Mr. Hezekiah Sola Oyinlola, outgoing Chairman of GTCO, highlighted the company’s record-breaking achievement, noting that it became the first Nigerian bank to cross the N1 trillion profit threshold.
“In 2024, we achieved a profit before tax exceeding N1 trillion — a testament to the resilience of our business model, the dedication of our people, and the trust our customers place in us,” Oyinlola said.
On the company’s diversification efforts, he noted, “Our strategic expansion into payments, asset management, and pension fund administration has fortified our earnings and expanded our leadership in the financial services sector.”
Group Chief Executive Officer, Mr. Segun Agbaje, also spoke at the AGM, reaffirming GTCO’s commitment to sustainable growth across Nigeria, West Africa, East Africa, and the United Kingdom.
He emphasized that despite regulatory and economic headwinds, the company had maintained a strong financial footing.
“The Central Bank of Nigeria’s recapitalization exercise offered a strategic opportunity, which we seized successfully with a N209.41 billion capital raise during the first phase of our Public Offer,” Agbaje revealed, noting that GTCO’s shareholder base expanded significantly from 332,000 to over 460,000 within the year.
Reacting to the development, Chief Timothy Adesiyan, a leading shareholder, lauded the management for their outstanding performance, stating, “GTCO has set a new benchmark not only in profitability but also in shareholder value.”
Mrs. Bisi Bakara, National Coordinator of the Pragmatic Shareholders Association of Nigeria, echoed similar sentiments, praising the proposed final dividend and describing GTCO’s leadership as “focused, courageous, and responsive” despite economic headwinds.