{"id":37575,"date":"2018-05-29T10:00:48","date_gmt":"2018-05-29T10:00:48","guid":{"rendered":"https:\/\/new.igihe.com\/i-m-bank-rwanda-announces-rwf2-6-billion-dividend\/"},"modified":"2018-05-29T09:57:11","modified_gmt":"2018-05-29T09:57:11","slug":"i-m-bank-rwanda-announces-rwf2-6-billion-dividend","status":"publish","type":"post","link":"https:\/\/new.igihe.com\/english\/i-m-bank-rwanda-announces-rwf2-6-billion-dividend\/","title":{"rendered":"I&M Bank Rwanda announces Rwf2.6 Billion dividend payout"},"content":{"rendered":"

In March 2017, the State-owned stake of 19.81% in I&M Bank Rwanda was offered for sale, resulting to Rwf99 030 400.<\/p>\n

During the Annual General Meeting between I&M Bank’s Board of Directors and shareholders, that took place this Monday, 29th May 2018, it was agreed that starting from July 4th, shareholders would start receiving Rwf5.16 ($0.006) per share dividend payout.<\/p>\n

The Chairman of the I&M Bank Rwanda Board, Bill Irwin, said that last year the bank reported Profit after tax of Rwf6.8 billion, where 40% will go to shareholders while the remaining will be invested in the I&M Bank Rwanda’s projects, mainly the construction of its General Headquarters.<\/p>\n

\u201cWe have to be having a high amount of investment as some of our projects require a grand amount of investment such as the construction of our headquarters and the upgrading of the bank’s technology.\u201d<\/p>\n

The construction of I&M Bank’s General headquarters will take up to USD20 million while the upgrading of the bank’s technology will take up to Rwf3 million.<\/p>\n

I&M Bank officials affirmed that the shares owned by the government were 19.81% of the bank, and that up to date, there were no discussions on increasing them.<\/p>\n

The CEO of Rwanda Stock Exchange, Rwabukumba Pierre C\u00e9lestin, said that the state-owned shares are now costing Rwf 95 per piece \u2014increasing from Rwf90, and were sold at a minimum of 1,000 shares.<\/p>\n

The sale is in accordance with the government\u2019s policy of divesting itself of public enterprises as well as its shares in private ones. <\/p>\n

The Board of Directors also agreed to change the bank\u2019s name from I&M Bank Rwanda Ltd to I&M Bank Rwanda Plc. <\/p>\n

According to the managing-director, Robin Bairstow, the \u2018Plc\u2019 stood as the legal designation that the bank offered its shares to the general public and was not a private entity.<\/p>\n

As of 31 December 2017, the Bank\u2019s Total Assets stood at Rwf260 billion, a year-on-year increase of 26% while Gross Loans increased by 32.3% to Rwf149.6 billion and Net Loans and Advances increased by 33% Year-on-Year to Rwf146.5 billion.<\/p>\n

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[For more pictures, click here->https:\/\/www.flickr.com\/photos\/igihepictures\/sets\/72157694207887652]
\n{{Photos: Moses Niyonzima }} <\/p>\n","protected":false},"excerpt":{"rendered":"

The I&M Bank Rwanda board has proposed a Rwf2.6 Billion dividend payout\u2014 40 per cent of the net profit, after posting strong earnings in the year ending December 2017.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[75],"byline":[170],"hashtag":[],"class_list":["post-37575","post","type-post","status-publish","format-standard","hentry","category-business","tag-homenews","byline-igihe"],"bylines":[{"id":170,"name":"IGIHE","slug":"igihe","description":"","image":{"id":0,"url":"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&f=y&r=g","alt":"Default avatar","title":"Default avatar","caption":"","mime_type":"image\/jpeg","sizes":[]},"user_id":8}],"contributors":[{"id":170,"name":"IGIHE","slug":"igihe","description":"","image":{"id":0,"url":"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&f=y&r=g","alt":"Default avatar","title":"Default avatar","caption":"","mime_type":"image\/jpeg","sizes":[]},"user_id":8}],"featured_image":null,"_links":{"self":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts\/37575","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/comments?post=37575"}],"version-history":[{"count":0,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts\/37575\/revisions"}],"wp:attachment":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/media?parent=37575"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/categories?post=37575"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/tags?post=37575"},{"taxonomy":"byline","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/byline?post=37575"},{"taxonomy":"hashtag","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/hashtag?post=37575"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}