Zenith Bank Plc has reaffirmed its commitment to rewarding shareholders, promising stronger dividends in the years ahead. This announcement came during its 34th Annual General Meeting (AGM) held on Tuesday, April 29, 2025, at the Civic Centre, Victoria Island, Lagos.
At the meeting, shareholders approved a final dividend of NGN4.00 per share. This brings the total dividend for the 2024 financial year to NGN5.00 per share, amounting to NGN195.67 billion.
Founder and Chairman of Zenith Bank Plc, Jim Ovia, CFR, expressed appreciation for shareholders’ ongoing support. He credited their loyalty for the bank’s strong growth and resilience. Despite global economic pressures in 2024, the bank capitalized on opportunities within each subsidiary to maintain outstanding performance.
Group Managing Director and CEO, Dame Dr. Adaora Umeoji, OON, also addressed shareholders for the first time in her new role. She thanked them for their trust and pledged to exceed expectations moving forward.
“This AGM marks my first as GMD/CEO,” she said. “Zenith Bank is focused on long-term sustainability. We aim to surpass your expectations consistently.”
Dr. Umeoji highlighted the bank’s successful recapitalization exercise, which achieved 160% subscription. As a result, Zenith Bank now holds a strong capital buffer and does not need to raise funds again soon.
“Our dividend history shows consistent growth,” she noted. “We will uphold this tradition while growing our topline organically and maintaining strict corporate governance.”
Shareholders Applaud Bank’s Milestone Performance
Several shareholder representatives praised the bank’s achievements. Dr. Faruk Umar, President of the Association of the Rights of Nigerian Shareholders (AARNS), applauded the bank’s exceptional financial results.
“We are thrilled with the N5 dividend,” he said. “The GMD has elevated Zenith Bank to new heights. Last year, profits hit the trillions. In contrast, we saw N676 billion the previous year. This is remarkable.”
He also highlighted the bank’s numerous awards and its success in surpassing the Central Bank’s recapitalization requirement by 160%.
Alhaji Otunba Mukhtar Mukhtar, Chairman of the Trusted Shareholders Association of Nigeria, praised Zenith’s unmatched consistency in dividend payouts. He pointed out that Profit Before Tax (PBT) reached N1.3 trillion.
“The bank has consistently rewarded shareholders,” he said. “This performance makes us proud and confident in their leadership.”
Ambassador Dr. Olatunde Okelana, the Balogun Olugbon of Orile-Igbon, Oyo State, described his investment in Zenith Bank as his best financial decision. He praised the bank’s dividend policy and the leadership of Dame Dr. Umeoji.
“I invest where returns are strong,” he stated. “Zenith Bank offers the best value in Nigeria’s capital market. I encourage more Nigerians to invest.”
Chief Timothy Adesiyan, President of the Shareholders Solidarity Association of Nigeria, expressed similar views. He thanked the management for keeping their dividend promise.
“When you invest in Zenith Bank, you can relax,” he said. “Their commitment to investor value is unmatched.”
Financial Results Reflect Resilience and Market Leadership
Zenith Bank posted a solid financial performance in 2024 despite macroeconomic challenges. Gross earnings rose by 86%, from NGN2.13 trillion to NGN3.97 trillion. This growth was driven by a 138% increase in interest income, fueled by investments in high-yield government securities and an expanded loan portfolio.
Customer deposits grew by 45%, reflecting market trust. Meanwhile, total assets increased by 47%, backed by strong liquidity and sound balance sheet management.
The bank’s excellence continues to earn global recognition. For the 15th consecutive year, it ranked as Nigeria’s Number One Bank by Tier-1 Capital in The Banker Magazine’s 2024 Top 1000 World Banks. It also secured Bank of the Year (Nigeria) from The Banker in 2020, 2022, and 2024, along with Best Bank in Nigeria from Global Finance in 2020, 2021, 2022, and 2024.
With firm leadership, robust performance, and strong shareholder backing, Zenith Bank is well-positioned for future growth and long-term success.
