Nigeria’s Zenith Bank has declared N3.97tn as earnings for 2024 financial year and proposed a ₦195.67bn dividend payout to shareholders.
Addressing the shareholders ay the annual general meeting of the bank on Tuesday in Lagos, the Founder and Chairman of Zenith Bank Plc, Mr. Jim Ovia, thanked the shareholders for their unflinching support and commitment, which he said, had 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 shareholders of Zenith Bank Plc, however, approved a final dividend payment of N4 per share, bringing the total dividend for the 2024 financial year to N5.00 per share, with a total value of N195.67 billion.
In her address, the Group Managing Director/Chief Executive Officer, Dr. Adaora Umeoji, expressed her appreciation to the shareholders for their commitment and support, promising quantum leap in dividends going forward.
“This is the first time that I am addressing the Annual General Meeting (AGM) in my capacity as the first female GMD/CEO of Zenith Bank. I would like to thank you for your confidence and support that has placed me in this position today,” she said.
According to her, Zenith Bank is committed to, not only meeting your expectations, but exceeding them. We are focused on running a very efficient and sustainable institution that is resilient and will ensure that our institution outlives many generations to come.
On dividend payment, she said: “If you look at our dividends trajectory, payments over the period have always increased and we will continue to maintain this record. We have successfully 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.”
GIK/APA