Zenith bank delights shareholders, pays N3.20 dividend per share

At the 32nd Annual General Meeting (AGM) of Zenith Bank Plc, held virtually from the Civic Centre, Victoria Island, Lagos, on Tuesday, sharehold­ers of the bank unanimously approved the proposed final dividend payment of N2.90 per share.

This brings the total divi­dend for the 2022 financial year to N3.20 per share, with a total value of N100.47 billion.

In his opening statement at the AGM, Jim Ovia, Founder and Chairman of Zenith Bank Plc, expressed his gratitude to the shareholders for their un­wavering loyalty, commitment, and support, which have been instrumental in the bank’s out­standing performance since its inception.

Group Managing Director/ Chief Executive, Dr. Ebenezer Onyeagwu, extolled the Found­er and Chairman, Jim Ovia, for establishing the legacy and providing the template for the bank’s continued superior per­formance.

He also highlighted the board and management’s determination to maintain the bank’s growth trajectory in the coming years, with an emphasis on digital and retail banking.

Speaking at the AGM, Dr. Faruk Umar, President of the Association of the Rights of Ni­gerian Shareholders (AARNS), commended the board and management of Zenith Bank for consistently delivering val­ue to shareholders, despite the challenging economic environ­ment.

He also praised the bank’s staff for their loyalty and ded­ication.
Chief Timothy Adesiyan, President, Shareholders Soli­darity Association of Nigeria, expressed delight at the divi­dend payout and thanked the board and management for the outstanding performance that led to approving both an inter­im and final dividend during the year.

Also speaking, Mrs. Adeni­ke David, National Coordinator of the Esteemed Sharehold­ers Association of Nigeria, congratulated the bank and chairman on their exceptional performance, as evidenced by the numerous awards received during the 2022 financial year.

She also praised the bank for paying an interim dividend of 30 kobo and a final dividend of 2.90 kobo.

Despite challenging mac­roeconomic conditions, Ze­nith Bank Group achieved a 24% growth in gross earn­ings, from N765.6 billion in the previous year to N945.5 billion in 2022. This was driv­en by a 26% YoY growth in interest income and a 23% YoY growth in non-interest income. Customer depos­its grew by 39%, reflecting the bank’s market leader­ship and customers’ trust. Net-Interest-Margin (NIM) increased from 6.7% to 7.2%, positively impacted by the elevated yield environment. Operating expenses grew by 17% YoY, though still below the inflation rate. Total as­sets rose by 30%, primarily due to growth in customer deposits.

In 2023, Zenith Bank Group said it plans to expand its reach and reorganise into a holding company structure, adding new verticals to its business­es and pursuing growth in all chosen markets, locally and internationally.

An elated zenith bank shareholder, Uche could not contain his joy when he opened his phone this morning and saw an alert of N99,989.00, being his dividend from the 2022 financial year end of zenith bank.