Breaking: Zenith Bank Approves N78.941Bn Dividend For Shareholders

Zenith Bank Plc. has approved a gross dividend of N78,491 billion for its shareholders, according to a statement posted to the Nigerian Stock Exchange on Tuesday.

The bank arrived at the decision during its Annual General Meeting, on March 16. 

The directors of the bank resolved that the N78,491 billion dividends would be shared at N2,50 for every fully paid ordinary share of 50k registered in the name of such holder as at the close of business on March 9, 2020.

The decision would increase the bank’s dividend for the year 2019 to N2.80K.

The banks also fixed directors fee for the 2020 financial year at N20 million per director, while the remuneration of auditors would be fixed by the directors of the bank.

Zenith disclosed it had 640,835 shareholders who hold a total of 31,396,493,787 shares, while 14 directors were on the board as at the release of its annual financial statement on February 21, 2020.

Meanwhile, in the statement, the bank announced N208.693 billion net profit for the year 2020.