Zenith Bank Plc has pledged to increase dividend payouts in the coming years following the approval of a ₦195.67 billion dividend distribution for the 2024 financial year.
At the bank’s 34th Annual General Meeting (AGM) held at the Civic Centre in Victoria Island, Lagos, on Tuesday, April 29, 2025, shareholders endorsed the proposed final dividend of ₦4.00 per share. This brings the total dividend for the year to ₦5.00 per share.
Chairman and founder of Zenith Bank, Jim Ovia, CFR, expressed gratitude to the shareholders for their continuous support, attributing the bank’s consistent success to their commitment and loyalty.
Despite global headwinds in 2024, Ovia noted that the bank capitalized on opportunities across its subsidiaries to deliver strong financial performance, reinforcing the brand’s resilience.
Addressing shareholders for the first time as Group Managing Director/CEO, Dame Dr. Adaora Umeoji, OON, extended appreciation for the trust placed in her leadership, affirming her administration’s commitment to exceeding stakeholders’ expectations.
She emphasized the bank’s focus on operational efficiency, sustainability, and long-term viability, noting that the bank had achieved 160% subscription in its recapitalization efforts, eliminating the need for further capital raising in the near term.
“Our dividend trend has been consistently upward, and we intend to maintain this trajectory,” Umeoji assured. “With sufficient capital buffers, Zenith Bank is well-positioned to continue rewarding shareholders while upholding high standards of corporate governance.”
Dr. Faruk Umar, President of the Association of the Rights of Nigerian Shareholders (AARNS), praised Umeoji’s leadership and applauded the bank’s robust performance, noting that gross earnings and shareholders’ funds had reached the trillion-naira mark—a significant leap from the previous year’s ₦676 billion.
Similarly, Alhaji Otunba Mukhtar Mukhtar, Chairman of the Trusted Shareholders Association of Nigeria, lauded the bank’s consistent dividend track record, describing it as unmatched in Nigeria’s banking sector.
He commended Zenith’s profit before tax (PBT) of ₦1.3 trillion and reiterated the shareholders’ satisfaction with the bank’s overall financial performance.
Ambassador Dr. Olatunde Okelana, the Balogun Olugbon of Orile-Igbon, Oyo State, hailed Zenith Bank as his most rewarding investment, attributing his 99.9% savings allocation to the institution’s reliable returns and exceptional leadership.
“I believe those who have not invested in Zenith Bank are missing out,” he remarked, praising both the bank’s performance and the leadership of Dame Dr. Umeoji.
Chief Timothy Adesiyan, President of the Shareholders Solidarity Association of Nigeria, echoed similar sentiments, acknowledging the management’s consistent fulfillment of dividend promises and declaring Zenith Bank a trustworthy financial institution.
Zenith Bank recorded a stellar financial year in 2024, with gross earnings growing by 86% to ₦3.97 trillion from ₦2.13 trillion the prior year. Interest income surged by 138%, bolstered by investments in high-yield government securities and an expanding loan portfolio. Customer deposits climbed by 45%, while total assets grew by 47%, reflecting a robust liquidity position and prudent balance sheet management.
The bank’s outstanding performance continued to earn accolades. In 2024, Zenith was once again named Nigeria’s Number One Bank by Tier-1 Capital in The Banker Magazine’s Top 1000 World Banks Ranking—for the fifteenth consecutive year.
Zenith Bank also clinched the Bank of the Year (Nigeria) title at The Banker’s Awards in 2020, 2022, and 2024, and was named Best Bank in Nigeria four times between 2020 and 2024 by Global Finance’s World’s Best Banks Awards.
