{"id":30395,"date":"2021-06-07T17:54:29","date_gmt":"2021-06-07T17:54:29","guid":{"rendered":"https:\/\/www.africa-press.net\/tanzania\/?p=30395"},"modified":"2021-06-07T16:04:42","modified_gmt":"2021-06-07T16:04:42","slug":"nmb-shareholders-endorse-another-hefty-dividend","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/tanzania\/all-news\/nmb-shareholders-endorse-another-hefty-dividend","title":{"rendered":"NMB shareholders endorse another hefty dividend"},"content":{"rendered":"

Africa-Press<\/a> – Tanzania<\/a>. <\/strong><\/span>THE outstanding performance posted by NMB Bank Plc last year prompted its shareholders over the weekend to approve the proposed hefty dividend payout of 68.5bn\/- that amounts to 137\/- per share.<\/p>\n

Apart from setting the industry record of 206bn\/- in net profit, the country\u2019s leading financial services provider also surpassed its profitability target for 2020 by almost 50 per cent.<\/p>\n

NMB Bank Chief Executive Officer Ruth Zaipuna told journalists after the bank\u2019s second virtual annual general meeting (AGM) that the bank also recorded an industry-best 51 per cent cost-to-income ratio and a non-performing loans ratio of five per cent.<\/p>\n

\u201cThe 68.5bn\/- dividend payout is a 43 per cent increase compared to the dividend payout of 48bn\/-paid for the year ended December 2019,\u201d Ms Zaipuna said during the press briefing of the 21st AGM in Dar es, Salaam.<\/p>\n

\u201cThis marks the third consecutive annual increase in the company\u2019s dividend,\u201d she explained.<\/p>\n

The NMB Bank shareholders pocketed 96\/- for each share in the year ended December 2019 when it made a net profit of 142bn\/-. In 2018, the dividend payout was 33bn\/- or 66\/- per share after it netted a profit of 98bn\/-.<\/p>\n

The 2020 dividends will be paid mid this month, with the bank\u2019s two major shareholders pocketing about 45.7bn\/-of the total payout.<\/p>\n

Strategic investor Arise whose stake in the business is 34.9 per cent will get 23.9bn\/- and the government\u2019s 31.8 per cent share ownership assures it nearly 21.8bn\/-.<\/p>\n

The NMB Board Chairman Dr Edwin Mhede said the approved dividend payout reflects consistent delivery of strong returns to shareholders and value-creation to all stakeholders as the bank continues to transform lives and contribute meaningfully to nation-building efforts.<\/p>\n

The lender said the 43 per cent increase in dividend payout reflects the excellent 2020 annual results and its strong capital position.<\/p>\n

Despite global Covdi-19 challenges, the 2020 historic net profit was a 45 per cent increase over the previous year\u2019s outturn. The Bank\u2019s Chief Financial Officer, Mr Juma Kimori, said they had targeted a profit after tax of 138bn\/-, which means the bank surpassed the mark by 68bn\/-being an increase of about 49.3 per cent.<\/p>\n

\u201cIn 2020, we delivered a solid financial performance in the context of a challenging broader operating environment. Our continued strong performance into 2021 shows good progress along with our strategic plan and provides reassurance on the direction we have taken,\u201d Ms Zaipuna noted.<\/p>\n

She said the 65bn\/-net profit made in the first quarter of this year was a 33 per cent increase over the level of profitability during the corresponding period in 2020.<\/p>\n

The continued strong performance in 2021, Ms Zaipuna explained, affirms the disciplined execution of the bank\u2019s operational strategy and readiness to capitalise on its firm foundations for sustainable business growth.<\/p>\n

According to her, NMB has a healthy balance sheet and maintains solid capital levels that are well above regulatory benchmarks, which makes it internationally recognised as a stable and sound bank.<\/p>\n

\u201cThrough our pool of talent and disciplined execution of our strategic plan, we remain committed to playing a key role in supporting Tanzania\u2019s socio-economic development agenda by providing best-in-class service to our customers and strong returns for our investors,\u201d Ms Zaipuna noted.<\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Tanzania. THE outstanding performance posted by NMB Bank Plc last year prompted its shareholders over the weekend to approve the proposed hefty dividend payout of 68.5bn\/- that amounts to 137\/- per share. Apart from setting the industry record of 206bn\/- in net profit, the country\u2019s leading financial services provider also surpassed its profitability […]<\/p>\n","protected":false},"author":84,"featured_media":30394,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8,16],"tags":[6990,6991,711],"class_list":["post-30395","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","category-twitter","tag-africa-press-2","tag-africa-press-tanzania","tag-tanzania"],"yoast_head":"\nNMB shareholders endorse another hefty dividend - Tanzania<\/title>\n<meta name=\"description\" content=\"THE outstanding performance posted by NMB Bank Plc last year prompted its shareholders over the weekend to approve the p ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/tanzania\/all-news\/nmb-shareholders-endorse-another-hefty-dividend\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"NMB shareholders endorse another hefty dividend\" \/>\n<meta property=\"og:description\" content=\"THE outstanding performance posted by NMB Bank Plc last year prompted its shareholders over the weekend to approve the p ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/tanzania\/all-news\/nmb-shareholders-endorse-another-hefty-dividend\" \/>\n<meta property=\"og:site_name\" content=\"Tanzania\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2021-06-07T17:54:29+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2021\/06\/img-60be438041987.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"564\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/nmb-shareholders-endorse-another-hefty-dividend#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/nmb-shareholders-endorse-another-hefty-dividend\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"NMB shareholders endorse another hefty dividend\",\"datePublished\":\"2021-06-07T17:54:29+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/nmb-shareholders-endorse-another-hefty-dividend\"},\"wordCount\":540,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/nmb-shareholders-endorse-another-hefty-dividend#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2021\/06\/img-60be438041987.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Tanzania\",\"tanzania\"],\"articleSection\":[\"all news\",\"Economy\",\"homepage-english\",\"twitter\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/tanzania\/all-news\/nmb-shareholders-endorse-another-hefty-dividend#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/nmb-shareholders-endorse-another-hefty-dividend\",\"url\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/nmb-shareholders-endorse-another-hefty-dividend\",\"name\":\"NMB shareholders endorse another hefty dividend - 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