Zenith {Bank} delights shareholders with dividend payout of N195.67 Billion, Guarantees quantum leap in future dividends
Shareholders of Zenith {Bank} Plc, on the thirty fourth Annual Common Assembly (AGM) held on the Civic Centre, Victoria Island, Lagos, on Tuesday, April 29, 2025, accepted the proposed closing dividend fee of NGN4.00 per share, bringing the entire dividend for the 2024 {financial} yr to NGN5.00 per share, with a complete worth of NGN195.67 billion.
The Founder and Chairman of Zenith {Bank} Plc, Jim Ovia, CFR, thanked the shareholders for his or her unflinching assist and dedication, which have been accountable for the {bank}’s stellar efficiency over time. He famous that regardless of challenges globally in 2024, Zenith {Bank} was capable of leverage the alternatives inside the atmosphere of every subsidiary to report a efficiency that solidly attests to the {bank}’s resilience as a model.
The Group Managing Director/Chief Govt Officer, Dame Dr. Adaora Umeoji, OON, expressed her appreciation to the shareholders for his or her dedication and assist, promising quantum leap in dividends going ahead.
In response to her, “That is the primary time that I’m addressing the Annual Common Assembly (AGM) in my capability as the primary feminine GMD/CEO of Zenith {Bank}. I wish to thanks to your confidence and assist that has positioned me on this place at present”.
She additional stated that “Zenith {Bank} is dedicated to, not solely assembly your expectations, however exceeding them. We’re centered on operating a really environment friendly and sustainable establishment that’s resilient and can be sure that our establishment outlives many generations to come back”.
Speaking particularly about dividend, she emphasised that “When you take a look at our dividends’ trajectory, funds over the interval have all the time elevated and we are going to proceed to take care of this report. Now we have efficiently accomplished our recapitalization train, reaching 160% subscription. Due to this fact, we aren’t below any strain to return for the second time to lift funds. Zenith {Bank} has adequate capital buffer to do enterprise, and we are going to proceed to please our shareholders. We’re dedicated to rising our topline organically whereas adhering to our strict company governance tradition.”
Dr. Faruk Umar, President of the Affiliation of the Rights of Nigerian Shareholders (AARNS), applauded the Group Managing Director for her efforts in making certain the expansion of the {bank}’s {financial} indices. He stated, “We’re very comfortable that the {bank} is paying us N5. Most significantly the GMD/CEO, Dame Dr. Adaora Umeoji, has completed so nicely. Up to now yr, she received the award for the Banker of the 12 months which could be very commendable, and all of the {bank}’s indices have gone up; we at the moment are experiencing trillions in revenue in opposition to N676 billion the earlier yr, and the shareholder’s funds, the gross earnings – every thing now could be in trillions. I believe that is very commendable. The {bank} has received so many awards – no {bank} in Nigeria has received such qualitative awards like they’ve. Additionally they surpassed the capitalization threshold of CBN by 160% – that is unprecedented. We’re very pleased with their efficiency.”
Talking on the dividend payout, Alhaji Otunba Mukhtar Mukhtar, Chairman, Trusted Shareholders Affiliation of Nigeria, stated “The consistency of Zenith {Bank} dividend payout has by no means been matched in Nigeria. Because the inception of this {bank}, they’ve saved giving shareholders a constant dividend payout, and this has made shareholders to be richer, happier, and extra excited on the hardwork, efficiency and dedication of the {bank}. We’re very comfortable. When you take a look at the Revenue Earlier than Tax (PBT) and the Revenue After Tax (PAT), they’ve been capable of cross the N1 trillion threshold. They’ve given us a Revenue Earlier than Tax of N1.3 trillion, which could be very commendable. The shareholders, as you’ve got seen on the assembly, have expressed their happiness and pleasure about this efficiency. I’m grateful to the Chairman, Dr. Jim Ovia, CFR, the Administration and the Board for such an impressive efficiency.”
Ambassador Dr. Olatunde Okelana, the Balogun Olugbon of Orile- Igbon, Oyo State, additionally commented on the {bank}’s dividend payout. In his phrases, “Zenith {Bank} funding has been the very best for me. I wish to consider that whoever has not invested in Zenith {Bank} has misplaced. Their dividend coverage could be very palatable, very lovely within the banking business and the woman on the helm of affairs is performing splendidly nicely. She is likely one of the finest feminine CEOs within the banking Trade in Nigeria. I’m a capitalist, so I make investments the place my cash can provide me lovely returns. I wish to let you know that Zenith {Bank} has been the very best within the capital market, and it’s the finest funding. Dr. Jim Ovia, CFR, the Founder & Chairman, is a profit to mankind, he has completed the very best by giving us Zenith {Bank}. 99.9% of my financial savings are in Zenith {Bank}, as a result of I’ve confidence in them and within the Administration led by Dame Dr. Adaora. I wish to encourage many Nigerians to spend money on Zenith {Bank} in order that they can also reap the fruit of their labor as quickly as doable. I’m very comfortable to be a shareholder of this {bank}.”
Chief Timothy Adesiyan, President of the Shareholders Solidarity Affiliation of Nigeria, praised the Chairman and Administration of Zenith {Bank} for his or her constant supply of worth to shareholders. He famous, “The dividend we acquired this yr of N5 has been a promise which they’ve given to us at a number of boards which they’ve known as at totally different occasions, and we thank them for not failing us of their promise. I’m very proud to be a shareholder of Zenith {Bank}, and likewise their buyer. The {bank} is a really dependable {bank} – for those who hold your investments in Zenith {Bank}, you may fall asleep as a result of there’s all the time anyone there watching your funding for you.”
The {bank}’s strong {financial} efficiency in 2024 alluded to its dedication to repeatedly delivering worth to its buyers despite difficult macroeconomic circumstances. Zenith {Bank} Group achieved a outstanding double-digit development of 86% in gross earnings, from NGN2.13 trillion within the earlier yr to NGN3.97 trillion in 2024. This was pushed by a 138% enhance in curiosity revenue, supported by funding in high-yield authorities securities, and development within the {Bank}’s mortgage ebook. Buyer deposits grew by 45%, reflecting the {bank}’s market management and prospects’ belief. Whole property rose by 47%, underpinned by a robust liquidity place and efficient steadiness sheet administration.
Zenith {Bank}’s observe report of fantastic efficiency has continued to earn the model quite a few awards together with being acknowledged because the Quantity One {Bank} in Nigeria by Tier-1 Capital for the fifteenth consecutive yr within the 2024 High 1000 World Banks Rating, revealed by The Banker Journal. The {Bank} was additionally awarded the {Bank} of the 12 months (Nigeria) in The Banker’s {Bank} of the 12 months Awards for 2020, 2022 and 2024; and Finest {Bank} in Nigeria for 4 occasions in 5 years, from 2020 to 2022 and in 2024, within the World Finance World’s Finest Banks Awards.
