By Oyinkansayo Wole-Bodunde.
At Zenith Bank’s 34th Annual General Meeting, shareholders approved a final dividend payment of N4.00 per share, bringing the total dividend for 2024 to N5.00 per share, valued at N195.67 billion.
Founder and Chairman Jim Ovia expressed gratitude to shareholders for their unwavering support, attributing the bank’s outstanding performance to their commitment. Despite global challenges in 2024, Zenith Bank leveraged opportunities to achieve remarkable results.
Group Managing Director/CEO Dame Dr. Adaora Umeoji highlighted the bank’s commitment to exceeding shareholder expectations and ensuring long-term sustainability. She emphasized the bank’s focus on efficient operations, strict corporate governance, and organic growth. 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 completed our recapitalisation exercise, achieving 160% subscription. Therefore, we are not under any pressure to go back for the second time to raise funds.”
Shareholders praised the bank’s performance, with Dr. Faruk Umar, President of the Association of the Rights of Nigerian Shareholders, commending Dr. Umeoji’s leadership. “We are very happy that the bank is paying us N5. Most importantly, the GMD/CEO, Dame Dr. Adaora Umeoji, has done so well.”
Other shareholders, including Alhaji Otunba Mukhtar Mukhtar and Ambassador Dr. Olatunde Okelana, expressed their satisfaction with the bank’s consistent dividend payouts and performance. “Zenith Bank investment has been the best for me. Their dividend policy is very palatable, very beautiful in the banking industry,” Dr. Okelana said.
The bank’s financial performance in 2024 was impressive, with double-digit growth in gross earnings, driven by increased interest income and growth in the loan book. Customer deposits and total assets also increased significantly.
