By NEIL HARTNELL
Tribune Business Editor
Commonwealth Bank will tomorrow pay a two cents per share extraordinary dividend to shareholders of record at February 18, taking 2018’s total investor pay-out to more than $35m.
The payment represents the second extraordinary and final dividend based on 2018 earnings of around $50m, and brings total 2018 payments to 12 cents per share. Commonwealth Bank’s dividend payments, both regular and extraordinary, reflect its philosophy of sharing its success with its shareholders.
“By maintaining these levels of dividends that are supported by the bank’s profitability, we have been able to demonstrate the value we place on our shareholders and reward them accordingly,” said William B Sands, the BISX-listed bank’s executive chairman.
“The bank has a very healthy capital position with more than double the capitalisation required by the Central Bank, and our earnings position remains strong. Sharing with those who bank with us and believe in Commonwealth Bank as a valuable investment is part of our core commitment.”
With more than $1.7bn in assets, Commonwealth Bank’s draft unaudited earnings for 2018 are around $50m. Audited results for 2018 are expected to be released shortly.
Commonwealth Bank has eight branches in New Providence, full service branches in Abaco, Grand Bahama and Spanish Wells, and numerous off-site automated banking machines (ABMs) for 24/7 banking available to customers.