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CSCS declares N6.93bn profit, N5.85bn dividend for 2020

CSCS declares N6.93bn profit, N5.85bn dividend for 2020
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DBN Names New Executive Director, Non-Executive Director


By Ndubuisi Francis
The nation’s wholesale development finance institution, Development Bank of Nigeria (DBN), has announced the appointment of Mrs. Ijeoma Ozulumba and Mr. Kyari Abba Kyari as Executive Director and Independent Non-Executive Director respectively, on the board of the bank.
The Chairman of the Board of Directors, Dr. Shehu Yahaya, who made the disclosure, noted that the appointment of Ozulumba and Kyari would further strengthen DBN’s vision to provide adequate and sustainable financing to micro, small, and medium enterprises (MSMEs) across the country.
In a statement issued by the bank, the board chairman maintained that the organisation would continually uphold the highest standards of corporate governance, which have kept the bank on a steady trajectory of progress. ....

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CSCS Grows Profit by 41% to N6.9bn, to Pay N5.8bn Dividend


Goddy Egene
The Central Securities Clearing System Plc (CSCS) successfully weathered the storm in 2020 financial year to deliver improved results and declared dividend.
Details of the performance showed that total operating income stood at N12.087 billion, boosted by the investment income of N7.443 billion, up from N4.612 billion.
Profit before tax (PBT) printed at N7.392 billion, up by 22.3 per cent from N6.042 billion. However, income tax dropped by 59.34 per cent from N1.141 billion in the preceding year to N464.361 million, making profit after tax (PAT) grew faster by 41.3 per cent to N6.93 billion from N4.90 billion. The board recommends a dividend of N5.8 billion, which is 117 kobo per share. ....

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