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MBABANE - For the fiscal year that ended on December 31, 2022, Nedbank Eswatini has declared a final dividend of E100 million, or 406 cents per share.

The payouts, according to the bank, were due to shareholders listed in the company’s books as of May 19, 2023, when business was at an end. The letter states that from May 19 through May 25, 2023, both days inclusive, the transfer books and register of members will be closed for purposes of determining those shareholders to whom the dividend shall be paid. The bank stated that the dividend payment is anticipated to occur around May 31, 2023. Both regular and withholding taxes would be subtracted from dividend payments made to residents and non-resident shareholders, they stated. Nedbank Eswatini is one of the seven publicly traded companies in Eswatini, with a market capitalisation of over E330 million. Nedbank Eswatini Limited’s headline earnings for 2022 were E161.7 million, up from E136 million in 2021. This was revealed by Nedbank Eswatini in their financial results for the year ending December 31, 2022.


Nedbank also mentioned that a dividend of 406 cents per share was declared, totalling E100 million for the financial year ended December 31, 2022, and payable to shareholders registered in the books of the company at the close of business on May 12, 2023. They said the dividend would be paid to the shareholders on May 31, 2023. In declaring the dividend, all liquidity, solvency and capital requirements were adhered to. During 2022, the bank’s net interest income improved by 13 per cent, while its underlying asset loans and advances only increased by 2.2 per cent. The bank’s income from lending benefited from the cumulative 275 basis point rise in interest rates. The impairment charge for the year increased to E31.1 million (2021: E17.9 million).


Most of the clients that were previously impacted by COVID-19 have recovered and their accounts have been regularised. However, the bank said business activity within the small and medium enterprises (SME) sector and hospitality industry continued to remain subdued and thus negatively impacted their level of impairments in the year under review.
The bank said it continued to pursue the model of migrating its customers onto digital platforms, thus increasing non-interest revenue by six per cent to E202.4 million from E190.8 million in 2021.

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