National Bank Shareholders Reap Rewards
Basseterre, St. Kitts – Nevis
April 20, 2009 (CUOPM)
Shareholders of the St. Kitts-Nevis-Anguilla National Bank are taking home EC$15 million in dividend.
The Bank’s Board of Directors recommended and received approval at the recent Annual General Meeting for a dividend of 18.5 percent to be paid to shareholders for the financial year ended June 30th 2008.
The total dividend of EC$14.98 million was paid compared to EC$14.2 million for the 2007 financial year.
Shareholders’ equity increased by $174.5million or 68.4% to$429.7million in 2008 from $ 255.2 million in2007.Shareholders interest in National in 2008 was equal to 10 times the amount of their personal money that they invested in National.
The Directors also recommended a share dividend distribution to existing shareholders of two new shares for three existing shares. The total number of shares comprised in the recommendation is 54 million.
The number of shares National is authorised to issue is 135 million and the number of shares that have already been issued is 81 million.