Shareholders of Zenith Bank Plc, on the thirty fourth Annual Normal Assembly (AGM) held on the Civic Centre, Victoria Island, Lagos, on Tuesday, April 29, 2025, authorised the proposed remaining dividend fee of NGN4.00 per share, bringing the entire dividend for the 2024 {financial} yr to NGN5.00 per share, with a complete worth of NGN195.67 billion.
The Founder and Chairman of Zenith Bank Plc, Jim Ovia, CFR, thanked the shareholders for his or her unflinching help and dedication, which have been answerable for the {bank}’s stellar efficiency through the years. He famous that regardless of challenges globally in 2024, Zenith Bank was in a position to leverage the alternatives inside the atmosphere of every subsidiary to file a efficiency that solidly attests to the {bank}’s resilience as a model.
The Group Managing Director/Chief Govt Officer, Dame Dr. Adaora Umeoji, OON, expressed her appreciation to the shareholders for his or her dedication and help, promising quantum leap in dividends going ahead. Based on her, “That is the primary time that I’m addressing the Annual Normal Assembly (AGM) in my capability as the primary feminine GMD/CEO of Zenith Bank. I want to thanks in your confidence and help that has positioned me on this place in the present day”. She additional stated that “Zenith Bank is dedicated to, not solely assembly your expectations, however exceeding them. We’re targeted on working a really environment friendly and sustainable establishment that’s resilient and can be certain that our establishment outlives many generations to come back”. Speaking particularly about dividend, she emphasised that “When you take a look at our dividends trajectory, funds over the interval have all the time elevated and we are going to proceed to keep up this file. Now we have efficiently accomplished our recapitalization train, reaching 160% subscription. Subsequently, we aren’t underneath any stress to return for the second time to lift funds. Zenith Bank has adequate capital buffer to do enterprise and we are going to proceed to please our shareholders. We’re dedicated to rising our topline organically whereas adhering to our strict company governance tradition.”
Dr. Faruk Umar, President of the Affiliation of the Rights of Nigerian Shareholders (AARNS), applauded the Group Managing Director for her efforts in making certain the expansion of the {bank}’s {financial} indices. He stated, “We’re very glad that the {bank} is paying us N5. Most significantly the GMD/CEO, Dame Dr. Adaora Umeoji, has achieved so properly. Prior to now yr, she received the award for the Banker of the Yr which could be very commendable, and all of the {bank}’s indices have gone up; we at the moment are experiencing trillions in revenue towards N676 billion the earlier yr, and the shareholder’s funds, the gross earnings – every thing now could be in trillions. I believe that is very commendable. The {bank} has received so many awards – no {bank} in Nigeria has received such qualitative awards like they’ve. In addition they surpassed the capitalization threshold of CBN by 160% – that is unprecedented. We’re very proud of their efficiency.”
Talking on the dividend payout, Alhaji Otunba Mukhtar Mukhtar, Chairman, Trusted Shareholders Affiliation of Nigeria, stated “The consistency of Zenith Bank dividend payout has by no means been matched in Nigeria. Because the inception of this {bank}, they’ve stored giving shareholders a constant dividend payout, and this has made shareholders to be richer, happier, and extra excited on the hardwork, efficiency and dedication of the {bank}. We’re very glad. When you take a look at the Revenue Earlier than Tax (PBT) and the Revenue After Tax (PAT), they’ve been in a position to cross the N1 trillion threshold. They’ve given us a Revenue Earlier than Tax of N1.3 trillion, which could be very commendable. The shareholders, as you might have seen on the assembly, have expressed their happiness and pleasure about this efficiency. I’m grateful to the Chairman, Dr. Jim Ovia, CFR, the Administration and the Board for such an impressive efficiency.”
Ambassador Dr. Olatunde Okelana, the Balogun Olugbon of Orile- Igbon, Oyo State, additionally commented on the {bank}’s dividend payout. In his phrases, “Zenith Bank funding has been one of the best for me. I need to consider that whoever has not invested in Zenith Bank has misplaced. Their dividend coverage could be very palatable, very lovely within the banking business and the woman on the helm of affairs is performing splendidly properly. She is among the greatest feminine CEOs within the banking Trade in Nigeria. I’m a capitalist, so I make investments the place my cash may give me lovely returns. I need to let you know that Zenith Bank has been one of the best within the capital market and it’s the greatest funding. Dr. Jim Ovia, CFR, the Founder & Chairman, is a profit to mankind, he has achieved one of the best by giving us Zenith Bank. 99.9% of my financial savings is in Zenith Bank, as a result of I’ve confidence in them and within the Administration led by Dame Dr. Adaora. I need to encourage many Nigerians to put money into Zenith Bank in order that they can also reap the fruit of their labor as quickly as potential. I’m very glad to be a shareholder of this {bank}.
Chief Timothy Adesiyan, President of the Shareholders Solidarity Affiliation of Nigeria, praised the Chairman and Administration of Zenith Bank for his or her constant supply of worth to shareholders. He famous, “The dividend we obtained this yr of N5 has been a promise which they’ve given to us at a number of boards which they’ve referred to as at totally different instances, and we thank them for not failing us of their promise. I’m very proud to be a shareholder of Zenith Bank, and in addition their buyer. The {bank} is a really dependable {bank} – should you preserve your investments in Zenith Bank, you may fall asleep as a result of there’s all the time any person there watching your funding for you.”
The {bank}’s strong {financial} efficiency in 2024 alluded to its dedication to repeatedly delivering worth to its buyers despite difficult macroeconomic situations. Zenith Bank Group achieved a outstanding double-digit development of 86% in gross earnings, from NGN2.13 trillion within the earlier yr to NGN3.97 trillion in 2024. This was pushed by a 138% improve in curiosity earnings, supported by funding in high-yield authorities securities, and development within the {Bank}’s mortgage e book. Buyer deposits grew by 45%, reflecting the {bank}’s market management and clients’ belief. Whole belongings rose by 47%, underpinned by a robust liquidity place and efficient stability sheet administration.
Zenith Bank’s observe file of fantastic efficiency has continued to earn the model quite a few awards together with being acknowledged because the Quantity One {Bank} in Nigeria by Tier-1 Capital for the fifteenth consecutive yr within the 2024 High 1000 World Banks Rating, revealed by The Banker Journal. The {Bank} was additionally awarded the {Bank} of the Yr (Nigeria) in The Banker’s {Bank} of the Yr Awards for 2020, 2022 and 2024; and Finest {Bank} in Nigeria for 4 instances in 5 years, from 2020 to 2022 and in 2024, within the World Finance World’s Finest Banks Award.
