Zenith Bank shareholders approve N125.59bn dividend payout

Shareholders of Zenith Bank Plc have approved the proposed final dividend payment of N3.50 per share, bringing the total dividend for the 2023 financial year to N4.00 per share with a total value of N125.59 billion.

The shareholders made the approval at the 33rd Annual General Meeting (AGM) of Zenith Bank held in Lagos on Wednesday, May 8, 2024.

Speaking, the Founder and Chairman of Zenith Bank, Dr Jim Ovia, thanked the shareholders for their support and loyalty to the Zenith brand which, he said, has been instrumental to the bank’s superior performance.

The bank’s Managing Director/Chief Executive Officer, Dr Ebenezer Onyeagwu, thanked Ovia for his mentorship, which he said has been instrumental to his success in the last five years as CEO.

Onyeagwu also thanked Ovia for providing the pedestal for the bank’s continued performance.

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“As I commence the mandatory regulatory cooling-off period, I am filled with optimism for Zenith Bank’s future, assured that we are on the path to even greater success,” he added.

Speaking on the dividend payout, the National Coordinator of the Pragmatic Shareholders Association of Nigeria, Bisi Bakare, expressed delight in the performance of the bank.

She said: “We shareholders are very pleased today to receive a final dividend of N3.50 kobo from Zenith Bank.

“Following an interim dividend of 50 kobo paid last December, the total dividend for the 2023 Annual General Meeting amounts to N4.00 – the highest in the banking sector to date. We truly appreciate this and are optimistic that the transition to a Holding Company will bring even greater returns.

“Zenith Bank’s numerous accolades this year clearly position it as the leading bank in the country. We anticipate that the 2024 AGM, marking the first year as a Holding Company, will be even more promising for Zenith.”

On his part, the President of the Association of the Rights of Nigerian Shareholders (AARNS), Dr Faruk Umar, expressed gratitude to the chairman for facilitating a succession plan.

Also speaking, the President of the Shareholders Solidarity Association of Nigeria, Timothy Adesiyan, commended the management of Zenith Bank for the consistent delivery of value to shareholders.

The Star