GCB Bank PLC has announced a proposed dividend of GHS 1 per share for the 2024 financial year, pending regulatory approval from the Bank of Ghana (BoG). This marks the bank’s first dividend declaration since suspending payouts in 2022 and 2023 due to the Domestic Debt Exchange Programme (DDEP).
The proposed dividend represents a total distribution of GHS 265 million—approximately 77.7% of the bank’s net profit of GHS 341 million for the year. This payout exceeds the bank’s standard policy of distributing 50% of profits and is aimed at compensating shareholders after a two-year break in dividend payments.
The decision follows a record financial performance in 2024, with GCB posting a profit before tax of GHS 1.91 billion, a 23.2% increase from the previous year. The bank’s total assets grew by 58% to GHS 42.8 billion, while customer deposits rose by 58.5% to GHS 34.5 billion.
The proposed dividend underscores GCB Bank’s solid financial position and its commitment to delivering value to shareholders. Final approval from the BoG is still pending.
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