News Column

Shareholders Urge Unity Bank to Pay Dividend

January 19, 2014

The Progressive Shareholders Association of Nigeria (PSAN) urged the newly appointed Managing Director of Unity Bank Plc , Mr Henry Semenitari, yesterday to ensure regular payment of dividends. Mr. Boniface Okezie , the PSAN President, who made the plea in an interview with the News Agency of Nigeria in Lagos , also urged the bank to employ the best hands in the industry to drive its business and customer service delivery. According to him, without effective customer services, the bank will find it difficult to compete favourably in the industry. Okezie said that the shareholders would like to see the bank to return to dividend payment in the nearest future. He said that the bank's equity price of 50k on the Nigerian Stock Exchange was not acceptable to shareholders. Okezie said that enhanced balance sheet would boost the bank's share price. He also called on the management to embark on branch expansion and facelift of existing branches to increase market share. NAN reports that the Central Bank of Nigeria (CBN) recently approved Semenitari appointment as the managing director and chief executive officer of the bank. Semenitari replaced MrRislanudeen Muhammad, who has been holding the forte in acting capacity since the departure of Mr Ado YakubuWanka, who resigned in August.


For more stories on investments and markets, please see HispanicBusiness' Finance Channel



Source: AllAfrica


Story Tools