Zenith Bank to pay shareholders interim dividend of N1

Zenith Bank, a tier-one bank in Nigeria will be paying its shareholders a dividend of N1 for every share of 50 kobo.

“ An Interim Dividend of N1.00k for every share of 50K, subject to appropriate withholding tax will be paid to shareholders whose names appear in the Register of Members as at the close of business on the 13th day of September,2024,” the bank announced in a corporate disclosure on Nigeria Exchange Group.

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The bank said that dividends will be paid electronically to shareholders whose names appear on the Register of Members as at when due, on September 20.

Shareholders are also expected to 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 after this date.

The bank reported a 98 percent rise in its after-tax profit in the first half of 2024.

According to the bank’s financial statement, its after-tax profit increased to N577.9 billion in H1 from N291.7 billion in the corresponding period of last year.

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The bank reported a 117.6 percent increase in its gross earnings to N2.1 trillion in H1 2024 from N967 billion in the same period of 2023, driven by an acceleration in both interest income and non-interest income.

Propelled by the growth of and by the effective pricing of risk assets, interest income surpassed the N1 trillion mark, a half-year record, growing by 177 percent from N415.4 billion in H1 2023 to N1.1 trillion in H1 2024, while non-interest income grew by 74 percent from N515.7 billion to N899.3 billion.