Tier 1 lender Zenith Bank Plc is set to pay shareholders N97.32 billion total dividend for the financial year 2021, translating to N3.01 per share, after getting shareholders to agree to a dividend payout of N87.91 billion for the second half of the year, which translates to N2.80 per share.
The bank had earlier paid an interim dividend of N0.30 per share totaling N9.4 billion for the first half of the year. It paid shareholders N3.0 per share, summing up to N94.19 billion in 2020.
The bank reported N244.4 billion profit last year, its highest ever. Last year’s profit growth rate was, however, the slowest since 2016. The bank’s profit grew at a mere 6.5 per cent compared to 10 per cent between 2019 and 2020.
The dividend is subject to appropriate withholding tax and approval will be paid to shareholders whose names appear in the register of members as at the close of business on March 25, 2022.
The register of shareholders will be closed on March 28, 2022 in preparation for the approval of payment on April 6, 2022.
The bank said dividends will be paid electronically to shareholders who have completed the e-dividend registration and mandated the registrar to pay their dividends directly into their Bank accounts.
It said GDR holders will be paid subsequently.
“Shareholders with dividend warrants and share certificates that have remained Warrants and shares unclaimed, or are yet to be presented for payment or returned for validation are advised to complete the e-dividend registration or contact the Registrar,” it said.
Shares in Zenith Bank rose 0.37 percent to N26.95 per unit in Lagos on Monday.