Zenith Bank Plc has announced the dividend payment of N97.33 billion to be paid to its shareholders out of the profit after tax for the year, reflecting a dividend increase of N3.14 billion y-o-y.
According to the bank, a final dividend payment of N2.80 kobo per 50 kobo ordinary share for the financial year ended 31 December 2021 will be paid to shareholders, bringing the total dividend for the year to N3.10 kobo as against N3.00 kobo in 2020.
This takes the gross dividend for FY 2021 to N97.33 billion, compared to N94.19 billion paid for 2020, hence, the bank has increased its dividend payment by N3.14 billion.
The proposed dividend payment will be subject to appropriate withholding tax.
At the Annual General Meeting (AGM) held on April 6, 2022, the resolution passed that the final dividend of N87.91 billion will be paid on pro-rata basis to shareholders holding fully paid ordinary shares registered in the books of the bank at the close of business on the 25th of March, 2022.
The date of dividend payment is yet to be communicated and will be published immediately upon filing with the exchange.
What you should know
Zenith Bank Plc had released its Audited 2021 financial results for the period ended 31 December 2021, reporting a profit of N244.56 billion, representing a 6.07% growth year on year. Interest Income of N427.60 billion was reported in the full-year period compared to N420.81 billion in the same period of 2020.
Earnings per share was recorded as N7.78 kobo against N7.34 kobo recorded in the corresponding period of 2020.
Year-to-date, the company’s shares have declined by 9.94% from N25.15 at the beginning of the year to N22.65 as at the time of writing this report.
The post Zenith Bank increases its dividend payment by N3.14 billion year-on-year appeared first on Nairametrics.
