Shareholders of Zenith Bank Plc, on Tuesday, approved the proposed final dividend payment of N4.00 per share, bringing the total dividend for the 2024 financial year to N5.00 per share, with a total value of N195.67 billion.
They gave the approval at the 34th Annual General Meeting (AGM) held in Lagos.
The Founder and Chairman of Zenith Bank Plc, Jim Ovia, thanked the shareholders for their unflinching support and commitment, which have been responsible for the bank’s stellar performance over the years.
He noted that despite challenges globally in 2024, Zenith Bank was able to leverage the opportunities within the environment of each subsidiary to record a performance that solidly attests to the bank’s resilience as a brand.
The Group Managing Director/Chief Executive Officer, Dr Adaora Umeoji, expressed her appreciation to the shareholders for their commitment and support, promising a quantum leap in dividends going forward.
She said “If you look at our dividend’s trajectory, payments over the period have always increased and we will continue to maintain this record. We have completed our recapitalization exercise, achieving 160% subscription.
Therefore, we are not under any pressure to go back for the second time to raise funds. Zenith Bank has sufficient capital buffer to do business and we will continue to delight our shareholders. We are committed to growing our topline organically while adhering to our strict corporate governance culture.”
Dr. Faruk Umar, President of the Association of the Rights of Nigerian Shareholders (AARNS), applauded the Group Managing Director for her efforts in ensuring the growth of the bank’s financial indices.
Speaking on the dividend payout, Alhaji Mukhtar Mukhtar, Chairman, Trusted Shareholders Association of Nigeria, said “The consistency of Zenith Bank dividend payout has never been matched in Nigeria. Since the inception of this bank, they have kept giving shareholders a consistent dividend payout, and this has made shareholders richer, happier, and more excited at the hard work, performance and commitment of the bank.”
