Lagos, Nigeria — Shareholders of Zenith Bank Plc don approve final dividend of N4.00 per share during di company 34th Annual General Meeting wey dem hold on Tuesday. Dis approval carry di total dividend for di 2024 financial year go N5.00 per share, wey go total N195.67 billion payout to shareholders.
Di Chairman and Founder of Zenith Bank Plc, Jim Ovia, show appreciation to shareholders for di constant support, wey he talk say don help di bank’s performance over di years. He state say di bank don navigate di challenging global environment in 2024 by leveraging opportunities across dem subsidiaries, maintaining operational resilience all through.
In her speech, Adaora Umeoji, di Group Managing Director/Chief Executive Officer of Zenith Bank, thank shareholders for di confidence dem show in her leadership. Dis na her first AGM as di bank’s GMD/CEO. She promise say di bank go continue to deliver growth, stating say dividend payments go still increase as di bank performance improve.
She talk say, “We don successfully complete our recapitalisation exercise, achieving 160 percent subscription. So, we no dey under any pressure to raise additional funds. Zenith Bank get sufficient capital buffers and we dey focus on organic growth while we maintain strict corporate governance.”
Faruk Umar, di President of di Association for di Advancement of di Rights of Nigerian Shareholders, commend di bank’s leadership for di declared dividend and di growth wey di bank don record for key financial indices. He note say di bank’s profit and shareholders’ funds don cross di trillion-naira mark, wey he describe as significant.
Otunba Mukhtar, chairman of di Trusted Shareholders Association of Nigeria, also laud di bank for dem consistent dividend history. He talk say di N5 dividend payout, along with profit before tax of N1.3 trillion, show strong financial management and value for shareholders.
Umeoji point out say Zenith Bank don hold di title of Number One Bank in Nigeria by Tier-1 Capital for di 15th year in di 2024 Top 1000 World Banks Ranking published by The Banker Magazine. She also mention say di bank win di Bank of di Year (Nigeria) award for 2020, 2022, and 2024, plus di Best Bank in Nigeria award in four out of di last five years from Global Finance.
For di 2024 financial year, Zenith Bank Plc report say interest income don increase by 138 percent, driven by investment in high-yield government securities and growth for di loan book. Gross earnings rise by 86 percent from N2.13 trillion in 2023 to N3.97 trillion in 2024. Customer deposits also grow by 45 percent, while total assets rise by 47 percent.
Last year, The PUNCH report say di shareholders of Zenith Bank don approve di record N125 billion dividend wey di group board of directors propose.
