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Latest Fidelity Payout Increases Dividends 78%

Fidelity Bank (Bahamas) yesterday announced a further $0.15 per share dividend payment, pushing shareholder returns for the year-to-date some 78 per cent higher than in 2013.

The latest dividend, payable on November 28, 2014, to shareholders of record as at November 21, will increase the total dividend paid by the bank to $0.25 for 2014, compared to $0.14 per share in 2013

The dividend yield is now 5.9 per cent.

Anwer Sunderji, Fidelity Bank (Bahamas) chief executive, said the increased dividends reflect the continuing improvement in its earnings stream.

The BISAX-listed bank reported a return on average assets (ROAA) of 2.8 per cent; a return on average equity (ROAE) of 27 per cent; and an efficiency ratio of 48 per cent for the first nine months of 2014.

Mr Sunderji said he was hopeful of a continued trend in earnings growth for the remainder of 2014, despite a a slow economy and growing loan delinquencies.

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