tier 1 lender Zenith Bank Plc will pay shareholders a total dividend of N97.32 billion for fiscal year 2021, which translates to N3.01 per share, after shareholders agreed on a dividend payment of N87.91 billion for the second half of the year, which translates to N2.80 per share.
The bank had previously paid an interim dividend of N0.30 per share for a total of N9.4 billion for the first half of the year. It paid shareholders N3.0 per share, totaling N94.19 billion in 2020.
The bank reported a profit of N244.4 billion last year, the highest in its history. However, last year’s profit growth rate was the slowest since 2016. The bank’s profit grew just 6.5 percent compared to 10 percent between 2019 and 2020.
The dividend is subject to applicable withholding tax and approval will be paid to shareholders whose names appear in the register of members at the close of business on March 25, 2022.
The register of shareholders will close on March 28, 2022 in preparation for payment approval on April 6, 2022.
The bank said that dividends will be paid electronically to shareholders who have completed the electronic dividend registration and have instructed the registrar to pay their dividends directly into their bank accounts.
He said that holders of the RDA will be paid later.
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“Shareholders with Dividend Warrants and Stock Certificates that have remained in Warrants and Unclaimed Stock, or have not yet been presented for payment or returned for validation, are encouraged to complete the electronic dividend registration or contact the Registrar,” he said.
Zenith Bank shares rose 0.37 percent to N26.95 per share in Lagos on Monday.