Zenith Bank declares N15.70bn as interim dividend to shareholders

Zenith Bank Plc has declared an interim dividend of N15.70 billion (representing N0.50 per share) to be paid to shareholders for the half year ended June 2023.

This was disclosed in the company’s corporate action announcement to the Nigerian Exchange Limited (NGX) on Monday.

The Board of Directors of the company proposed the payment of an interim dividend in the sum of N0.50kobo per ordinary share on the issued capital of 31,396,493,786 Ordinary Shares.

The Bank disclosed that the interim dividends would be paid to shareholders whose names appear in the Register of Members at the close of business on September 22, 2023, subject to the appropriate withholding tax.

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In terms of payment, shareholders would receive their dividends on September 29th, 2023 electronically provided their names appear on the Register of Members as of September 22nd, 2023, and have completed the e-dividend registration which mandates the Registrar to pay their dividends directly into their bank.

Zenith Bank also disclosed that shareholders who are yet to complete the e-dividend registration are advised to download the Registrar’s E-Dividend Mandate Activation.

Also, shareholders with dividend warrants and share certificates that have remained unclaimed or are yet to be presented for payment or returned for validation are advised to complete the e-dividend registration form or contact the Registrar.

The group reported profit before tax of ₦350.36billion, representing an increase of 169.5% over ₦ 130.00 billion recorded in the corresponding period ended June 2022.

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Recall that at its 32nd Annual General Meeting (AGM) in May, 2023, shareholders of the bank unanimously approved the proposed final dividend payment of NGN2.90 per share.

This brings the total dividend for the 2022 financial year to NGN3.20 per share, with a total value of NGN100.47 billion.

The board of Zenith Bank Plc had earlier announced a delay in the release of its 2023 Half-Year (HY) financial results due to post-audit issues.

According to the statement signed by the Company Secretary, Michael Osilama Otu, the delay in the publication of the Audited Interim Financial Statements for the Half Year ended June 30, 2023, is due to some outstanding post-audit issues.

“The Bank is, however, optimistic that the Audited half-year financial reports will be submitted to the Exchange on or before September 14, 2023, and regrets any inconveniences this delay might cause its esteemed stakeholders.