Shareholders of Zenith Bank Plc have approved a final dividend of NGN4.00 per share, bringing the total dividend payout for the 2024 financial year to NGN5.00 per share, at the bank’s 34th Annual General Meeting (AGM) held on Tuesday, April 29, 2025, at the Civic Centre, Victoria Island, Lagos. The total dividend represents a payout of NGN195.67 billion.
Okay.ng reports that the meeting provided a platform to review the bank’s 2024 performance, which remained strong despite global headwinds. Stakeholders praised Zenith Bank’s resilience and consistent value delivery.
The Founder and Chairman of Zenith Bank, Dr. Jim Ovia, CFR, expressed gratitude to shareholders for their continued support and acknowledged their role in the bank’s progress.
The event also marked the first AGM appearance of Dame Dr. Adaora Umeoji, OON in her capacity as Group Managing Director/Chief Executive Officer, and the bank’s first female CEO.
“This is the first time that I am addressing the Annual General Meeting (AGM) in my capacity as the first female GMD/CEO of Zenith Bank. I would like to thank you for your confidence and support that has placed me in this position today,” she said.
She reaffirmed the bank’s commitment to sustainability, corporate governance, and shareholder returns.
“Zenith Bank is committed to, not only meeting your expectations, but exceeding them. We are focused on running a very efficient and sustainable institution that is resilient and will ensure that our institution outlives many generations to come.”
“If you look at our dividends trajectory, payments over the period have always increased and we will continue to maintain this record. We have successfully completed our recapitalization exercise, achieving 160% subscription. Therefore, we are not under any pressure to go back for the second time to raise funds. Zenith Bank has sufficient capital buffer to do business and we will continue to delight our shareholders. We are committed to growing our topline organically while adhering to our strict corporate governance culture.”
Several shareholder groups expressed their satisfaction with the bank’s financial results and leadership.
Dr. Faruk Umar, President of the Association of the Rights of Nigerian Shareholders (AARNS), said:
“We are very happy that the bank is paying us N5. Most importantly the GMD/CEO, Dame Dr. Adaora Umeoji, has done so well. In the past year, she won the award for the Banker of the Year which is very commendable, and all the bank’s indices have gone up; we are now experiencing trillions in profit against N676 billion the previous year, and the shareholder’s funds, the gross earnings – everything now is in trillions. I think this is very commendable. The bank has won so many awards – no bank in Nigeria has won such qualitative awards like they have. They also surpassed the capitalization threshold of CBN by 160% – this is unprecedented. We are very happy with their performance.”
Alhaji Otunba Mukhtar Mukhtar, Chairman of the Trusted Shareholders Association of Nigeria, praised the bank’s payout consistency:
“The consistency of Zenith Bank dividend payout has never been matched in Nigeria. Since the inception of this bank, they have kept giving shareholders a consistent dividend payout, and this has made shareholders to be richer, happier, and more excited at the hardwork, performance and commitment of the bank. We are very happy. If you look at the Profit Before Tax (PBT) and the Profit After Tax (PAT), they have been able to cross the N1 trillion threshold. They have given us a Profit Before Tax of N1.3 trillion, which is very commendable. The shareholders, as you have seen at the meeting, have expressed their happiness and joy about this performance. I am grateful to the Chairman, Dr. Jim Ovia, CFR, the Management and the Board for such an outstanding performance.”
Ambassador Dr. Olatunde Okelana, the Balogun Olugbon of Orile-Igbon, Oyo State, said:
“Zenith Bank investment has been the best for me. I want to believe that whoever has not invested in Zenith Bank has lost. Their dividend policy is very palatable, very beautiful in the banking industry and the lady at the helm of affairs is performing wonderfully well. She is one of the best female CEOs in the banking Industry in Nigeria. I am a capitalist, so I invest where my money can give me beautiful returns. I want to tell you that Zenith Bank has been the best in the capital market and it is the best investment. Dr. Jim Ovia, CFR, the Founder & Chairman, is a benefit to mankind, he has done the best by giving us Zenith Bank. 99.9% of my savings is in Zenith Bank, because I have confidence in them and in the Management led by Dame Dr. Adaora. I want to encourage many Nigerians to invest in Zenith Bank so that they too can reap the fruit of their labor as soon as possible. I am very happy to be a shareholder of this bank.”
Chief Timothy Adesiyan, President of the Shareholders Solidarity Association of Nigeria, added:
“The dividend we received this year of N5 has been a promise which they have given to us at several forums which they have called at different times, and we thank them for not failing us in their promise. I am very proud to be a shareholder of Zenith Bank, and also their customer. The bank is a very reliable bank – if you keep your investments in Zenith Bank, you can go to sleep because there is always somebody there watching your investment for you.”
Zenith Bank’s 2024 financial results reflected solid performance with gross earnings rising by 86%, from NGN2.13 trillion to NGN3.97 trillion, driven by 138% growth in interest income, expansion in its loan book, and strong investment in government securities. The bank also recorded a 45% increase in customer deposits and a 47% growth in total assets.
Its consistent performance has earned it multiple recognitions, including being ranked Number One Bank in Nigeria by Tier-1 Capital for the 15th consecutive year by The Banker Magazine, and receiving awards for Bank of the Year (Nigeria) and Best Bank in Nigeria from The Banker and Global Finance, respectively.
