NBM to pay K3.4bn interim dividend
Malawi Stock Exchange(MSE) listed financial services provider National Bank of Malawi (NBM) has resolved to pay a second interim dividend of K1.4 billion bring the total to K3.4 billion in respect of the 2013 profits.
According to a statement published in the press signed by the bank’s company secretary Zunzo Mitole, NBM’s board of directors resolved to pay the second dividend which represents K3 per share during a meeting held on November 28.
The statement adds that the dividend will be paid to shareholders appearing in the register of the company as at close of business on December 27. The bank also paid its first interim dividend of K2 billion in respect of this year’s profits.
Last week, NBM announced that its profits for the year ending December 2013 are forecast to rise by at least 40 percent compared to last year’s.
Mitole has, however, noted that the information on which the trading statement is based is not yet reviewed or reported on by NBM external auditors.
The bank’s audited financial statement will be published in April 2014.
In 2012, the bank reported a 110 percent pretax profit in 2012 to K11 billion.
Last week, NBM share price rose by K5 from K210 on November 29 to K215 on December 6 with a price earnings ratio of K13.23 per share.
