At Zenith Bank Plc’s 34th Annual General Meeting, which took place in Lagos on Tuesday, shareholders approved a final dividend of N4.00 per share.
With the decision, shareholders would receive a total dividend of N195.67 billion for the 2024 fiscal year, or N5.00 per share.
Jim Ovia, the chairman and founder of Zenith Bank Plc, thanked the company’s shareholders for their ongoing support, which he claimed had improved the bank’s performance over time. According to him, the bank maintained operational resilience in 2024 by taking use of opportunities across all of its subsidiaries to handle the difficult global climate.
Noting that this was her maiden AGM as the bank’s GMD/CEO, Adaora Umeoji, the Group Managing Director/Chief Executive Officer of Zenith Bank, commended shareholders for their faith in her leadership.
She gave shareholders her word that the bank would continue to develop steadily and that dividend payments would rise in tandem with the business’s performance.
“We have effectively finished our recapitalization exercise, attaining a subscription rate of 160 percent,” she stated. As a result, there is no pressure on us to raise more money. Zenith Bank maintains stringent corporate governance, has enough capital buffers, and is still committed to organic growth.
The bank’s leadership was also praised by Faruk Umar, President of the Association for the Advancement of the Rights of Nigerian Shareholders, for the declared dividend and the bank’s rise in important financial indices. He said it was notable that the bank’s profit and shareholders’ funds had surpassed the trillion-naira milestone.
Otunba Mukhtar, the chairman of the Trusted Shareholders Association of Nigeria, also commended the bank for its steady dividend record. According to him, the N5 dividend payment, which included a N1.3 trillion profit before taxes, demonstrated sound financial management and shareholder value.
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