Standard Chartered Bank (SCB) has announced the payment of a final dividend of ¢1.74 per share to shareholders for the 2020 financial year.

This means all shareholders registered in the books of the bank at the close of business on Friday, July 23, 2021 will qualify for the final dividend.

However, this will be subject for approval at the bank’s Annual General Meeting on Wednesday 28th July, 2021.

In view of the foregoing, the ex-dividend date has been set as Wednesday, July 21, 2021. Consequently, an investor purchasing SCB shares before this date will be entitled to the final dividend.

However, an investor buying SCB shares on or after Wednesday, July 21, 2021 will not be entitled to the final dividend.

Importantly, the final dividend will be paid on Friday, August 27, 2021.

Stanchart recorded 69.6% growth in earnings to ¢478m in 2020

Standard Chartered Bank recorded a remarkable 69.7% growth in year-on-year earnings to ¢478 million in 2020, despite the impact of covid-19 on its operations.

The bank’s growth was due to outstanding growth in net trading income, which jumped by 48% to ¢247 million, whilst loan loss was also reduced to about ¢59 million.

It however recorded about ¢139.4 million growth in net fees and commissions at the end of 2020, about ¢36 million more than what was recorded in 2019.

Stanchart is one of the most efficient banks in the country today as the cost-to-income ratio-that is the measurement of operating costs in relation to earnings-was 28.2% during the period, far below the industry average.