Stanbic Holdings Plc has announced its 67th Annual General Meeting (AGM) to be held virtually on Thursday, 19th May 2022, at 11:00 a.m.
The AGM, governed by Articles 71(A), 71(B), 71(C), and 71(D) of the Stanbic Holdings Plc’s Articles of Association, will serve as a platform for shareholders to engage in decision making following the company’s record-breaking performance.
Further the company has released instructions for shareholders on how to apply for dividends following a year of remarkable performance.
How to Apply for Dividend After Record Performance
In accordance with the company’s Articles of Association, shareholders wishing to participate in the AGM must register for the event.
Registration can be completed by dialing 483824# for all networks, starting from 25th April 2022, and concluding on 17th May 2022.
During registration, shareholders will need to have their ID/Passport Numbers or CDSC Account Numbers on hand.
For those requiring assistance, a dedicated helpline (0709170017) is available from 8 a.m. to 5 p.m. on working days.
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Furthermore, ahead of the AGM, shareholders are encouraged to review essential documents, including the Notice, audited financial statements for the year 2021, the Annual Integrated Report, and the Proxy form, all accessible on the company’s website.
To ensure transparency and address shareholder queries, Stanbic Bank has provided multiple channels for raising questions or seeking clarification on AGM resolutions.
Shareholders can also submit written questions via email or physically deliver them to the company’s Shares Registrar’s office.
Stanbic Shareholders Participation in AGM
Alternatively, registered participants can ask questions during the meeting via SMS or register to speak directly.
For shareholders unable to attend the AGM, proxy forms are available on the company’s website or can be obtained from Image Registrars Limited offices.
Completed proxy forms should be submitted via email, physical delivery, or postal mail no later than 48 hours before the AGM date.
During the AGM, shareholders and proxies will receive SMS prompts with instructions on voting procedures.
The meeting will be live-streamed, allowing participants to follow proceedings and vote on resolutions through the USSD platform.
Following the conclusion of the AGM, results of the voting on resolutions will be published within 48 hours on the company’s website, ensuring transparency and accountability in the decision-making process.
Stanbic AGM Agenda and Performance
First on the list is the adoption of the Audited Financial Statements for the year ended 31st December 2021, alongside the Directors’ and Auditor’s Report thereon.
Following this, shareholders will consider and potentially approve a final dividend recommendation of KShs7.30 per ordinary share, with a total dividend per share of KShs9.00 for the fiscal year ending 31st December 2021.
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The published book closure date for dividend eligibility is set for 20th May 2022, with the anticipated payment slated for or about 3rd June 2022.
During the review period, net interest income grew from Sh18.9 billion to Sh25.6 billion as loans and advances to customers rose from Sh266.83 billion to Sh356.2 billion at the end of December.
Non-interest income drawn from fees and commissions rose from Sh13.14 billion to Sh15.67 billion, further propelling growth in net earnings.
Stanbic Holdings operating expenses, however, rose from Sh14.97 billion to Sh17.99 billion.
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