African Bank marks second annual payout with R100-million dividend

22-01-24 / Shelly Nxumalo

African Bank marks second annual payout with R100-million dividend

Johannesburg - African Bank Holdings Limited ("ABHL") announces the declaration and payment of its second annual gross cash dividend, reinforcing its commitment to sustained and diversified earnings as it continues to grow its customer franchise.

The dividend of 20 cents per ordinary share, amounting to a total of R100 million, will be disbursed to shareholders, including the South African Reserve Bank (SARB), Government Employees Pension Fund (GEPF) and several South African banks.

Building on the momentum of its inaugural dividend payout in 2023, ABHL continues to prioritise shareholder value, aligning with its dynamic growth trajectory and preparations for an initial public offering.

The bank continues to execute its Excelerate25 strategy, launched in 2021. This strategy seeks to build a customer-centric, data and digitally enabled bank with diverse businesses that offer scale and sustainability.

Kennedy Bungane, Group CEO of African Bank, emphasised the significance of this second dividend payment: "This dividend not only reflects our steadfast commitment to creating value for our shareholders, but also signifies our progress in line with our Excelerate25 strategy."

The dividend, declared from income reserves, stands as a testament to ABHL's financial strength and strategic direction.

ABHL expresses gratitude for the continued trust and support of its shareholders, stakeholders, and the broader financial community. The bank remains focused on delivering excellence, innovation, and continued growth as it realises its vision of an African Bank for the people, by the people, serving the people.