Zenith Bank Plc on Tuesday at its shareholders at the 30th Annual General Meeting Lagos, unanimously approved a final dividend of N94.19 billion to shareholders.
The value when split is about N2.70 per share, bringing the total dividend payment for the 2020 financial year to N3.00 per share, following the recent release of the Bank’s audited financial results for the 2020 financial year.
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According to the audited financial results, profit before tax (PBT) rose by five per cent to N255.9 billion from N243.3bn reported in the previous year despite a challenging macro-economic environment exacerbated by the COVID 19 pandemic.
The bank in a statement said the increase arose from a mixture of growth in the topline and a significant reduction in interest expense from N148.5bn in 2019 to N121.1bn in 2020, significantly increasing the net interest income from N267bn in 2019 to N299.7bn in 2020.
In recognition of its track record of excellent performance, Zenith Bank was voted as Bank of the Year (Nigeria) in The Banker’s Bank of the Year Awards 2020, Best Bank in Nigeria in the Global Finance World’s Best Banks Awards 2020 and Best Corporate Governance ‘Financial Services’ Africa 2020 by the Ethical Boardroom.
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