Shareholders of one of the country’s high street banks, National Bank of Malawi (NBM), were all smiles at the end o the company’s annual general meeting (AGM) on Thursday in Blantyre following the approval of a final dividend amounting to K23 billion.
This translates to a total dividend of K48 billion in respect of the K72 billion profit the company posted in 2023.
It further represents K102.80 earnings per ordinary share.
One of the company’s shareholders Bernadette Maere described the company’s performance as satisfactory.
“We are happy and proud of the performance of National Bank. As shareholders, we are always looking forward to capital growth which in 2023 rose to K2,700 from K2,500. It means that the initial value of the money that we invested in the National Bank counter has increased.
“But we also look forward to dividends. So, when a company is able to distribute dividends, it means there is a performance, good performance. And we have seen over the years National Bank putting up good performances and also distributing good dividends,” Maere said.
NBM Board Chairperson Jimmy Lipunga said the perfomance comes down to good talent, good strategy, a functional board of directors and creativity.
“Leaders are there to create solutions when the environment is less than perfect and it shows that the board, through its management, were responsive.
They came up with the right responses to the environment to pursue their strategies that, in the end, have delivered the returns for our shareholders.
“Every company will have a dividend policy that excites shareholders. They need to have a share, they need to have good returns, because they too would want to utilise those resources for whatever they want,” Lipunga said.
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