2014 H1 Results: Access Bank Post 4% Increase In Pre-tax Profits and Proposes Interim Dividend

Access Bank reported higher pre-tax profits for the half year ended June 2014. The bank post pre-tax profits of N27.1billion up 4% from theN26.1billion posted a year earlier. Gross earnings increased 15% to N117.9billion compared to N103.2billion. Net interest income rose 28% to N48.7billion compared to N37.9billion reported a year earlier. The share price closed flat at N9.74 gaining just 1%.

They also proposed the following dividend;

Proposed Dividend: 25k

Closure Date: 9-Sept-2014

Date of Payment: 23-Sept-2014

AGM Date: N/A

AGM Venue: N/A

Dividend yield based on this current price is just 2.5% and probably the reason for the flat share price growth.