Infinity Trust Mortgage Bank Plc has declared a 21 Kobo per share dividend for its shareholders, amounting to ₦875.79 million, following the approval of its audited 2024 financial results at the bank’s 19th Annual General Meeting (AGM) held virtually on Tuesday, May 20, 2025.
The dividend approval highlights the bank’s continued financial strength and its commitment to shareholder value creation.
The meeting, conducted via electronic channels in line with regulatory provisions, also featured the adoption of key governance and strategic resolutions.
Dividend and Financial Performance
Shareholders unanimously approved the audited financial statements for the year ended December 31, 2024, along with the reports of the Directors, Auditors, and the Statutory Audit Committee.
The declared dividend of 21 Kobo per share represents the bank’s consistent profitability and strong asset base in Nigeria’s mortgage banking sector.
New Auditor Appointed
In a strategic move, shareholders approved the appointment of PKF Professional Services as the external auditors of the bank, effective May 20, 2025.
The Board was also authorised to determine the remuneration of the external auditors for the 2025 financial year.
Corporate Governance Resolutions
The AGM ratified several key board-related decisions to maintain sound corporate governance practices. These include:
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Ratification of Dr. Olabanjo Obaleye as a Non-Executive Director
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Re-election of Dr. Nkechi Bibilari as Non-Executive Director
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Re-election of Mr. James Odegwai Ahmed as Independent Non-Executive Director
In addition, shareholders and board representatives were appointed to the Statutory Audit Committee, comprising:
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Dr. Franklyn Akinyosoye – Shareholders’ Representative
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Mr. Segun Owoeye – Shareholders’ Representative
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Mr. Lawrence Welle – Shareholders’ Representative
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Mrs. Abisola Obaleye (FCA) – Board Representative
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Mr. James Ahmed – Board Representative
These appointments are expected to enhance the bank’s compliance oversight and financial integrity.
Directors’ Remuneration and Managerial Disclosure
As part of the special business, shareholders approved the remuneration for Non-Executive Directors for the 2025 financial year, effective January 1, 2025, in accordance with disclosures made in the 2024 audited financial statements.
The remuneration of the company’s managers, as disclosed in Note 171 of the financial accounts, was also noted by the meeting.
Outlook
With continued emphasis on board stability, operational transparency, and value creation, Infinity Trust Mortgage Bank Plc is strategically positioned to consolidate its role in Nigeria’s mortgage finance sector.
The bank has maintained regulatory compliance and posted consistent year-on-year growth, reflecting prudent management and increasing shareholder confidence.
The AGM resolutions were confirmed in an official statement signed by Mrs. Tolu Osho, Company Secretary, on behalf of the Board.
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