Finance

Standard Bank Malawi to pay shareholders $9.6mln in dividend for FY2019

Standard Bank Malawi to pay shareholders $9.6mln in dividend for FY2019
Tuesday, 09 June 2020 12:35

Standard Bank Group, which owns 60.18% of stake in its subsidiary Standard Bank Malawi, and other minority shareholders of the subsidiary will receive 7.1 billion Malawian Kwacha (about $9.6 million) in dividends for the financial year 2019. Despite the current health crisis due to the coronavirus pandemic, the country’s Central Bank did not oppose banks’ decision to distribute dividends.

However, the distribution of dividends is subject to approval by the Board of Directors of the Malawi bank, which will meet at the Annual General Meeting on 26 June. Payment is expected by the end of July 2020. As a reminder, shareholders have already received the first part of this dividend in September 2019 (2.1 billion kwachas).

In Malawi, the banking sector regulator has not yet decided on the suspension or postponement of dividend payments by banks.

Like several central banks in Africa, the Reserve Bank of Malawi has put in place measures to support individuals and private enterprises in these difficult times. These measures include the restructuring of loans to small and medium-sized enterprises (SMEs) and the deferral of loan maturities to individuals and private enterprises for three months.

Chamberline Moko

On the same topic
External debt repayments by African states are set to exceed $90bn in 2026 Egypt alone accounts for nearly one-third of the amount...
Ifeyinwa Osime succeeds Paul Usoro San, who retired on January 29, 2026 She has served on Access Bank’s board as an independent director since...
A state-owned banking holding is planned for launch in 2026 The structure will centralize and manage public shareholdings in banks The move follows a...
The bank received its provisional headquarters in Nigeria on February 2 Initial capital is set at $500 million, with a long-term target...
Most Read
01

African startup M&A hits record 67 deals in 2025 Consolidation driven by funding pressures and ex...

African Startup M&A Hits Record 67 Deals in 2025, Led by Fintech
02

Except for Tunisia entering the Top 10 at Libya’s expense, and Morocco moving up to sixth ahead of A...

Global Firepower Index 2026: Egypt, Algeria, Nigeria Lead Africa's Military Rankings
03

Moniepoint, Opay, Kuda, and others gain national status with tighter oversight A naira 5 billion ...

Nigeria’s central bank upgrades fintech licenses amid rapid digital growth
04

ECOWAS has provided CFA400 million to support refugee assistance in Togo. The funding targets the...

ECOWAS grants CFA400mln to support refugee assistance in northern Togo
05

Touted as a tool of emancipation, blockchain was meant to give the Central African Republic a new fo...

Crypto Sovereignty Was CAR’s Goal. A Report Says Crime Risks Took Hold Instead
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.