Ghanaian serial investor Daniel Ofori to pocket $292,000 CalBank dividend

Ghanaian serial investor Daniel Ofori will earn $292,000 in dividends from his stake in CalBank.

CalBank is a leading commercial bank in Ghana.

Founded in 1990, the bank has seen its total assets, including customer loans, increase to $1.36 billion (GHS7.9 billion) as of Dec. 31, 2020, while shareholder equity is currently valued at $191 million (GHS1.11 billion).

In 2020, CalBank recorded 13.7-percent growth in profit to $47.5 million (GHS275 million). This impressive performance was triggered by a surge in non-funded transactions, which increased significantly from $4.66 million (GHS27 million) in December 2019 to $22.4 million (GHS130 million) in December the following year.

The board, therefore, recommended a dividend per share of GHS 0.11, amounting to a total payout of $11.86 million (GHS68.92 million), which is a demonstration of its commitment to delivering superior returns to shareholders.

Ofori, one of the bank’s top shareholders with an ownership stake of about 2.45 percent, is on course to earn a dividend of $ 0.019 (11 pesewas per share) on his issued shares.

With his stake in the company amounting to 15,377,194 ordinary issued shares, Ofori is on course to earn about $292,000 (GHS 1.7 million) from his position in the bank.

Ofori is an investor and businessman. He is known for founding White Chapel Ltd., a pioneering apparel retail outlet that has a large operational footprint in Ghana. He is the chairman and CEO of White Chapel Holdings and sits on the board of several companies. White Chapel Holdings is the parent organization of White Chapel Ltd.