The Ordinary General Assembly held on June 24 approves its 2022 financial statement and to redistribute as a dividend, an amount of FCFA 1,500,000,000 (one billion five hundred million), or FCFA 1 481 per share before withholding Tax on the Income from Movable Assets (Ircm). This is in application of Article 144 of the Ohada Uniform Act relating to Company law. The balance, i.e. FCFA 1,014,582,784 will remain Deferred again.
The total distribution in favor of the shareholders will amount to a gross amount of FCFA 1,500,000,000, payable after obtaining COBAC’s no objection. The net dividend per share will be : Listed shares (Ircm 11%) = FCFA 318, Registered Shares : Shareholders domiciled in Cameroon (Ircm 16.5%) = FCFA 236, Shareholders domiciled outside Cameroon (Ircm 15%) = FCFA 258
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According to the draft results consulted by La Voix Des Entreprises, the bank ended the 2022 financial year with a net result of 1.2 billion FCFA and intends to allocate 10 % of this result to legal reserves and 15% to regulatory reserves. To the remaining 920.5 million FCFA, the Board of directors proposes to add the sum of 579.4 million FCFA drawn from the postponement to new previous beneficiary ; which brings the distributable profit to 1.5 billion FCFA.
This is the first time in 8 years that the Regional Bank has opted for a distribution of dividends to its shareholders ; the establishment having made the choice to reinvest its profits for several years which allowed it to initiate the transition from microfinance to commercial banking. If this operation is approved by the general meeting, each shareholder will receive 1,481 FCFA per share before withholding Tax on Income from Movable Assets (IRCM). For listed shares, the net dividend per share will be 1,332 FCFA after the application of the Income Tax on securities (10 %).
This decision is good news for the bank’s historical shareholders, but also and especially for those who joined the shareholding in 2021 thanks to the capital increase. The latter have also been allocated 10,459 new shares free of charge, which means greater gains for the latter. According to experts, with the the current distribution of free shares and dividends, La Régional would hold one of the most profitable securities on the financial market.