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Return on investment: An overall dividend of 810 million FCFA for BICICI shareholders

16/06/2021
Categories: Economy/Forex

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Afor the 2020 financial year, the International Bank for Trade and Industry of Côte d'Ivoire (BICICI) will pay its shareholders an overall net dividend of 810 million FCFA. The announcement was made by the leaders of this bank based in Abidjan.

 

The Board of Directors convened its Ordinary General Meeting on June 17, 2021 to review the bank's accounts. It is planned to affect the net result of the 2020 financial year which amounts to 4.672 billion FCFA less the carry-over again deficit of 3.609 billion FCFA of the previous year, i.e. a mass of 1.062 billion FCFA to be distributed. Thus, the amount of 900 million FCFA will be distributed to shareholders. Compared to the 16,666,670 shares that make up the share capital, this gives a gross dividend of 54 FCFA per share representing 5.4% of the nominal share of 1000 FCFA. After deduction of the income tax on securities at the rate of 10%, the net dividend per share amounts to 48.6 FCFA, for a total of 810 million FCFA.

According to the BICICI Board of Directors, the sum of 159,367 million.419 FCFA will be allocated to the 15% allocation to the special reserve in accordance with Article 27 of the Banking Law. As of December 31, 2020, BICICI's balance sheet total had increased by 83 billion CFA francs to 831  billion CFA francs compared to 749   billion CFA francs in 2019. The resources collected by this banking institution had amounted to 716 billion FCFA, the bank's claims on its  customers had amounted to 482 billion FCFA, the net banking income decreased slightly to 45.315 billion FCFA while the gross result of operations amounted to 10.190 billion.

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