Guaranty Trust Holding Company (GTCO) is targeting a minimum dividend yield of 15% and a return on equity (ROE) of at least 25%, according to Group CEO Segun Agbaje, following the bank’s landmark dual listing of its ordinary shares on the London Stock Exchange (LSE).
Speaking in a post-listing media chat in London, Agbaje explained that the transition from Global Depositary Receipts (GDRs) to a full LSE share listing is more than just optics; it is a strategic recalibration aimed at unlocking access to global capital and attracting long-term institutional investors.
“Every Nigerian company should pay at least 15% dividend yield, especially when you look at the inflation rate,” Agbaje said in response to a question from one of the journalists “We are also setting our ROE floor at 25%, especially considering the macro volatility in Nigeria.”