“The Bank is focused on maximizing shareholders’ value and delivering optimal returns on investments.”
Juaben Rural Bank PLC has announced a dividend payout of GH¢1,125,053.00 for the 2023 financial year. This translates to a dividend of GH¢0.07 per share.
The dividend payment, approved by the Bank of Ghana, was announced by Nana Dr. Appiagyei Dankawoso I, the Board Chairman, during the Bank’s 38th Annual General Meeting.
Despite the challenging economic climate, the bank reported positive financial performance. Key highlights include:
- Deposit Growth: A 24.06% increase, rising from GH¢194 million in 2022 to GH¢240.8 million in 2023.
- Loan and Advance Growth: A 16.09% increase, reaching GH¢71.3 million in 2023 from GH¢61.4 million in 2022.
- Investment Growth: A significant 49.73% increase, from GH¢109.3 million in 2022 to GH¢163.7 million in 2023.
The declared dividend represents 27.14% of the bank’s profit after tax for the year.
According to the Board Chairman, the Bank has demonstrated its commitment to corporate social responsibility by investing GH¢105,000.00 in various initiatives. These initiatives include scholarships, Farmers’ Day celebrations, community support, and education infrastructure development in their operational areas .
The Bank’s CEO, Noble Augustine Awere Damoah, expressed his satisfaction with the Bank’s performance in 2023, citing its strong and sustainable business growth. He attributed this success to strategic initiatives and a commitment to operational excellence. Looking to the future, the CEO is hopeful that the Bank will continue to increase its market share and achieve sustainable business growth.
The CEO also encouraged investors to take advantage of the bank’s strong performance and acquire shares. He assured them that the Juaben Rural Bank is focused on maximizing shareholders’ value and delivering optimal returns on investments.
Source: Kwabena Kyekyeku
