Zenith Bank’s shareholders approved a final dividend of NGN4.00 per share, totaling NGN5.00 for 2024, at their AGM, celebrating the bank’s robust financial performance and future prospects
[dropcap]S[/dropcap]hareholders of Zenith Bank Plc (NGX: ZENITHBANK) today approved the proposed final dividend payment of NGN4.00 per share at the bank’s 34th Annual General Meeting (AGM) held in Lagos.
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This brings the total dividend for the 2024 financial year to NGN5.00 per share, amounting to a total payout of NGN195.67 billion.
The Founder and Chairman of Zenith Bank Plc, Jim Ovia, CFR, expressed his gratitude to the shareholders for their consistent support, which he credited for the bank’s outstanding performance over the years, despite global challenges in 2024.
The Group Managing Director/Chief Executive Officer, Dame Dr. Adaora Umeoji, OON, in her first AGM address in this role, thanked the shareholders for their confidence and support and promised a “quantum leap in dividends going forward.”
She highlighted the bank’s commitment to exceeding expectations, building a sustainable institution, and its successful completion of the recapitalization exercise with a 160% subscription rate.
Zenith Bank investment has been the best for me. I want to believe that whoever has not invested in Zenith Bank has lost. Their dividend policy is very palatable, very beautiful in the banking industry and the lady at the helm of affairs is performing wonderfully well,” said Ambassador Dr. Olatunde Okelana.
Shareholder representatives, including Dr. Faruk Umar (AARNS), Alhaji Otunba Mukhtar Mukhtar (TSAN), Ambassador Dr. Olatunde Okelana, and Chief Timothy Adesiyan (SSAN), lauded the bank’s performance, consistent dividend payout, and the leadership of Dame Dr. Umeoji.
They highlighted the significant growth in the bank’s financial indices, including crossing the N1 trillion threshold in both Profit Before Tax (PBT) and Profit After Tax (PAT).
Zenith Bank Group demonstrated strong financial performance in 2024, achieving an 86% growth in gross earnings to NGN3.97 trillion. This was driven by a 138% increase in interest income and growth in the loan book.
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Customer deposits grew by 45%, and total assets rose by 47%. The bank’s consistent excellence has earned it numerous accolades, including being recognized as the Number One Bank in Nigeria by Tier-1 Capital for the fifteenth consecutive year by The Banker Magazine.
