Four of Nigeria’s biggest lenders—United Bank for Africa (UBA), Zenith Bank, Guaranty Trust Holding Company (GTCO), and Stanbic IBTC Holdings—have declared interim dividends totalling about ₦135.49bn for the half-year ended June 30, 2025, offering relief to shareholders amid regulatory pressures and macroeconomic challenges.
Details of the payouts, contained in financial statements filed with the Nigerian Exchange Limited, showed that Stanbic IBTC Holdings emerged as the highest interim dividend payer, declaring ₦2.50 per ordinary share of 50 kobo each, translating to ₦39.75 billion. The bank stated that the payment, subject to withholding tax and approval, would be made to shareholders whose names appear in its register as of October 6, 2025. This decision, analysts said, underscored Stanbic’s earnings strength and commitment to shareholder value despite a tough operating environment.
Zenith Bank, Nigeria’s largest lender by market capitalisation, followed with an interim dividend of ₦1.25 per share across its 41.07bn issued shares, amounting to about ₦51.34bn. The bank explained that the dividend would be paid from retained earnings, subject to shareholder ratification, noting that the move reflected its resilience and strong balance sheet.
Guaranty Trust Holding Company announced an interim dividend of ₦1 per share, valued at ₦34.14bn, easing investor concerns that regulatory tightening might force lenders to scale back shareholder rewards.
UBA, meanwhile, proposed an interim dividend of 25 kobo per share, representing a dividend yield of 1.4 per cent and a payout ratio of 7.83 per cent. While comparatively modest, the bank’s payout reinforced its reputation for balancing shareholder returns with its regional growth strategy.
The announcements boosted investor sentiment in the financial markets, though not all banks were able to follow suit. Access Holdings secured an extension from the NGX to publish its half-year results by October 22, 2025, citing the need for Central Bank of Nigeria clearance. Fidelity Bank also delayed its filings, attributing the hold-up to ongoing reviews of its audited statements.
Other lenders, including First HoldCo, Sterling Financial Holding Company, Wema Bank, and FCMB Group, have released their half-year results but opted against declaring interim dividends, citing regulatory directives and capital management considerations.
The mixed approach across the sector comes against the backdrop of a recent Central Bank of Nigeria circular directing banks under regulatory forbearance to suspend dividend payments, defer executive bonuses, and halt offshore investments as part of ongoing reforms to strengthen financial system stability.
Despite these headwinds, the interim payouts by the four top-tier lenders underscore their resilience and ability to deliver value to shareholders while navigating an increasingly stringent regulatory and economic environment.
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