The board of directors of the pan-African banking group Ecobank Transnational Incorporated (ETI), met on Monday, February 28, 2022. A sum of $40 million in dividends was proposed by the board of directors, a first in 5 years.

Ecobank's directors have proposed a dividend that represents on average 5 times its current value on each of the African stock exchanges where the group is listed. That doesn't make up for 5 years without dividends, but it's enough to support solid stock growth. This proposal results in a dividend per share of $0.16, or the equivalent of 90 FCFA, 66.6 naira or 1.08 Ghanaian cedi.

For Nigerian and Ghanaian investors, this represents respectively 5.5 times and 8.3 times the most recent value of the group's shares they hold. For those of the Abidjan Regional Stock Exchange (BRVM), it is 4.5 times the value of Ecobank shares at the close of trading on Monday. To this must be added for WAEMU investors who have held ETI shares since the beginning of 2021, a cumulative capital gain of 49.5% at the end of February 2022.