Nigeria's First Bank proposes 10 kobo dividend

LAGOS, April 20 Tue Apr 20, 2010 6:59am EDT

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LAGOS, April 20 (Reuters) - Nigeria's First Bank FIRSTBA.LG on Tuesday proposed a dividend payment of 10 kobo per share and one bonus share for every eight held, brokers said, ahead of the announcement of its 2009 earnings.

Shares in First Bank were down the maximum 5 percent, weighing on the all-share index .NGSEINDEX which was down 0.56 percent at 1059 GMT. (Reporting by Chijioke Ohuocha and Oludare Mayowa)