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Femi Otedola to Earn N951mn Dividends from 7.57% First Bank Stake

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Billionaire Businessman, Mr. Femi Otedola, who has accumulated a 7.57% equity stake in FBN Holdings (FBNH) Plc will see his investment begin to pay off as he will earn an estimated N951 million as dividends from his FBNH shares.

Otedola’s direct and indirect holdings of FBNH the parent company of First Bank amounted to 2.717 billion shares as at December 2021.

FBNH has announced a final dividend of 35 kobo per share to shareholders whose names appear on the register as at the close of business on June 13, 2022.

Shares of FBNH closed trading at N10.75 per share on Thursday (May 26), equivalent to a dividend yield of 3.25%.

FBNH shares have returned -5.7% so far in 2022, underperforming the NGX all share index which has risen 24.43% in the same time period.

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