Ghana’s biggest bank, Ecobank, has announced a dividend of 55 pesewas per share for all shareholders, with respect to the 2020 financial year.

This is however expected to be paid on 25th June, 2021.

According to the bank, all shareholders registered in the books of Ecobank Ghana at the close of business on Friday, May 14, 2021 will qualify for the final dividend.

In view of the foregoing, the ex-dividend date has been set as, Wednesday, May 12, 2021. Consequently, an investor purchasing Ecobank Ghana shares before this date will be entitled to the final dividend.

However, an investor buying Ecobank shares on or after Wednesday, May 12, 2021 will not be entitled to the final dividend.

Ecobank records 22% growth in profit in 2020

Despite the adverse effect of Covid-19 on the economy, Ecobank Ghana registered an impressive 22% growth in profit for last year.

This is due to a significant increase in interest income during the period.

According to its 2020 Financial Statement, the bank’s Return on Equity- an important profitability indicator for shareholders, also grew by 26.0%.

Ecobank Ghana benefited tremendously from interest on investments and loans last year as this shot up by 26% year-on-year to GH ¢1.55 billion.