Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.

Nigerian billionaire and investor Femi Otedola is set to receive significant rewards for his investment in First Bank of Nigeria Holdings (FBNH).

FBNH, in a corporate statement published on the Nigerian Exchange Limited (NGX), announced a dividend of 40 kobo per share to shareholders for the year ending December 2023.

The total dividend payout to shareholders amounts to N14.35 billion.

Dividends are payments a company makes to share profits with its stockholders. They're one of the ways investors can earn a regular return from investing in stocks. Dividends can be paid out in cash, or they can come in the form of additional shares.

Part of the statement reads:

"On August 23, 2024, dividends will be paid electronically to shareholders whose names appear on the Register of Members as at August 13, 2024 and who have completed the e-dividend registration and mandated the Registrar to pay their dividends directly into their Bank accounts"