May 02, (THEWILL) – Shareholders of Zenith Bank Plc, at the bank’s 34th Annual General Meeting held at the Civic Centre, Victoria Island, Lagos, on Tuesday, April 29, 2025, approved a final dividend of N4.00 per share for the 2024 financial year. This brings the total dividend payout to N5.00 per share, valued at N195.67 billion.
Founder and Chairman of Zenith Bank Plc, Dr. Jim Ovia, thanked shareholders for their unwavering support over the years, describing it as a key driver of the bank’s continued success. He said despite global economic headwinds in 2024, the bank leveraged opportunities across its subsidiaries to deliver strong results, reflecting its brand resilience.
Addressing shareholders for the first time as the Group Managing Director/Chief Executive Officer, Dame (Dr.) Adaora Umeoji expressed gratitude for the confidence reposed in her leadership. She assured shareholders of improved returns and sustainable growth.
“Zenith Bank is committed not only to meeting your expectations but exceeding them,” she said. “We are focused on building a sustainable institution that will outlive generations.”
Highlighting the bank’s performance, Umeoji noted that Zenith successfully concluded its recapitalisation exercise with a 160% subscription, providing ample capital buffer to support its operations without the need for further fundraising.
“Our dividend trajectory has consistently grown, and we intend to maintain that record. We are committed to growing our topline organically while adhering to strict corporate governance principles,” she added.
The President of the Association for the Advancement of the Rights of Nigerian Shareholders (AARNS), Dr. Faruk Umar, praised the bank’s management for delivering strong financial results. He described the N5 dividend as impressive and commended Umeoji’s performance, noting that all key performance indices of the bank had surged into the trillions.
“The bank posted over N1.3 trillion in Profit Before Tax, a remarkable achievement. Shareholders are happy, and Zenith remains unmatched in terms of award recognition and financial strength,” he said.
Also speaking, Chairman of the Trusted Shareholders’ Association of Nigeria, Alhaji Otunba Mukhtar Mukhtar, hailed the bank’s dividend consistency since inception. He said the bank’s outstanding performance had made shareholders wealthier and more confident in its leadership.
“The bank continues to set the standard with over N1.3 trillion in PBT and consistent dividend payouts. It is a model for others in the sector,” he said.
Ambassador Dr. Olatunde Okelana, the Balogun Olugbon of Orile-Igbon, Oyo State, described his investment in Zenith Bank as the most rewarding in his portfolio.
“Zenith Bank’s dividend policy is the best in the industry. The GMD is one of the finest female CEOs in the banking sector. I have 99.9% of my savings in Zenith because I trust them,” he said.
President of the Shareholders Solidarity Association of Nigeria, Chief Timothy Adesiyan, also lauded the Chairman and management for fulfilling their dividend promise.
“If you keep your investments in Zenith Bank, you can sleep peacefully knowing your money is in safe hands,” he said.
Zenith Bank’s performance in 2024 reflected its ability to deliver value in a tough macroeconomic environment. The Group recorded 86% growth in gross earnings, rising from N2.13 trillion in 2023 to N3.97 trillion in 2024, driven by a 138% surge in interest income, expansion of its loan book, and strategic investments in high-yield government securities.
Customer deposits grew by 45%, underscoring market confidence, while total assets rose by 47%, supported by strong liquidity and prudent balance sheet management.
Zenith Bank’s consistent track record has earned it multiple awards. It was ranked the Number One Bank in Nigeria by Tier-1 Capital for the 15th consecutive year in the 2024 Top 1000 World Banks Ranking by The Banker Magazine. It also won Bank of the Year (Nigeria) in 2020, 2022, and 2024, and Best Bank in Nigeria in 2020, 2021, 2022, and 2024 by Global Finance magazine.
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