Shareholders of Zenith Bank Plc approved a record dividend payout of NGN125.59 billion at the 33rd Annual General Meeting (AGM) held on May 8, 2024. The final dividend payment was set at NGN3.50 per share, bringing the total dividend for the 2023 financial year to NGN4.00 per share, marking the highest dividend payout by any bank.
Dr. Jim Ovia, Founder and Chairman of Zenith Bank Plc, expressed his gratitude to shareholders for their unwavering support and loyalty to the Zenith brand which he said has been instrumental in the bank's consistent superior performance.
Dr. Ebenezer Onyeagwu, Group Managing Director/Chief Executive Officer, thanked Dr. Ovia for his mentorship over his five-year tenure as CEO and expressed confidence in his successor, Dame (Dr) Adaora Umeoji. He said, “As I prepare to pass the baton to Dame (Dr) Adaora Umeoji, OON, I am confident in the bank's trajectory under her leadership."
Mrs. Bisi Bakare, National Coordinator of the Pragmatic Shareholders Association of Nigeria, lauded Zenith Bank's performance and expressed optimism about its transition into a Holding Company structure.
At the AGM, Dr. Faruk Umar, President of the Association of the Rights of Nigerian Shareholders (AARNS), praised Zenith Bank's succession planning while Chief Timothy Adesiyan, President of the Shareholders Solidarity Association of Nigeria commended its adherence to strict corporate governance principles.
Despite challenging macroeconomic conditions and economic headwinds in 2023, Zenith Bank Group reported a triple-digit growth rate of 125% in gross earnings from NGN945.6 billion in 2022 to NGN2.132 trillion in 2023.
Zenith Bank Group plans to expand its reach in 2024 following its restructuring into a holding company structure. The bank's track record of excellent performance has earned it numerous awards, including Best Bank in Nigeria from the Global Finance World’s Best Banks Awards and Best Bank for Digital Solutions in Nigeria from the Euromoney Awards 2023.
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