At the 33rd Annual General Meeting (AGM) of Zenith Bank Plc, held at the Civic Centre, Victoria Island, Lagos, on Wednesday, 8 May 2024, shareholders enthusiastically approved the proposed final dividend payment of NGN3.50 per share. This decision brings the total dividend for the 2023 financial year to NGN4.00 per share, with an impressive total value of NGN125.59 billion. This marks the highest dividend payout by any bank, showcasing Zenith Bank’s commitment to delivering value to its shareholders.
Dr. Jim Ovia, CFR, Founder and Chairman of Zenith Bank Plc, expressed gratitude to the shareholders for their unwavering support and loyalty to the Zenith brand, which has been pivotal to the bank’s consistent superior performance.
Dr. Ebenezer Onyeagwu, the Group Managing Director/Chief Executive Officer, credited the bank’s success to Dr. Jim Ovia’s mentorship and the supportive environment fostered by the board, shareholders, customers, and staff. As he prepares to transition leadership to Dame (Dr) Adaora Umeoji, OON, he expressed confidence in the bank’s future trajectory under her guidance.
Mrs. Bisi Bakare, National Coordinator of the Pragmatic Shareholders Association of Nigeria, hailed the exceptional performance of Zenith Bank, citing numerous awards received during the 2023 financial year. She expressed optimism for even greater returns following the transition to a Holding Company structure.
Dr. Faruk Umar, President of the Association of the Rights of Nigerian Shareholders (AARNS), commended the bank’s succession planning, particularly the promotion of the new Managing Director from within, demonstrating the bank’s commitment to leadership development.
Chief Timothy Adesiyan, President of the Shareholders Solidarity Association of Nigeria, praised Zenith Bank’s growth, attributing it to diligent oversight, adherence to corporate governance principles, and responsive management.
Despite challenging economic conditions, Zenith Bank Group achieved remarkable triple-digit growth in gross earnings, interest income, and non-interest income. The bank’s plans for 2024 include expanding its reach following its restructuring into a holding company structure and pursuing growth in both local and international markets.
Zenith Bank’s outstanding performance has earned it numerous awards, reaffirming its position as a leader in the banking sector. These accolades include Best Bank in Nigeria, Best Bank for Digital Solutions in Nigeria, and recognition for corporate governance excellence, sustainability, and innovation.
Zenith Bank’s commitment to delivering value to its shareholders and maintaining excellence in its operations underscores its position as a trailblazer in the Nigerian banking industry.