By Ayomide Otitoju
Shareholders of Zenith Bank Plc have approved a final dividend of ₦4.00 per share at the bank’s 34th Annual General Meeting (AGM), held on Tuesday, April 29, 2025, at the Civic Centre, Victoria Island, Lagos. This brings the total dividend for the 2024 financial year to ₦5.00 per share, amounting to ₦195.67 billion.
Founder and Chairman of Zenith Bank, Jim Ovia, CFR, expressed appreciation to shareholders for their continued support, emphasizing the bank’s ability to deliver strong results despite global economic challenges. He noted that the bank’s resilience was evident across its subsidiaries.
In her first AGM address as Group Managing Director/CEO, Dame Dr. Adaora Umeoji, OON, reaffirmed the bank’s commitment to sustainable growth and shareholder value. “We will not only meet your expectations but exceed them,” she said, citing the successful completion of the bank’s recapitalization exercise with a 160% subscription rate.
Umeoji pledged continued dividend growth and robust financial management, stating: “We have sufficient capital buffer and remain focused on growing our topline organically while maintaining strong corporate governance.”
Shareholders praised the bank’s performance and leadership. Dr. Faruk Umar, President of the Association of the Rights of Nigerian Shareholders, commended Umeoji for significantly improving key financial indices and for winning several industry awards. “Zenith Bank’s profits are now in trillions, and it has surpassed the CBN capitalization threshold by 160%,” he said.
Alhaji Otunba Mukhtar Mukhtar, Chairman of the Trusted Shareholders Association of Nigeria, highlighted the bank’s unmatched dividend consistency. “Zenith Bank’s Profit Before Tax crossed ₦1.3 trillion—an exceptional result,” he said, while lauding the bank’s commitment to shareholder prosperity.
Chief Timothy Adesiyan, President of the Shareholders Solidarity Association of Nigeria, also praised the leadership and reliability of the bank. “Zenith Bank remains one of the safest investments. The management has consistently kept its promises to shareholders,” he said.
The bank’s 2024 financial performance reflects strong fundamentals: gross earnings rose 86% to ₦3.97 trillion from ₦2.13 trillion in 2023, driven by a 138% surge in interest income and a growing loan book. Customer deposits increased by 45%, and total assets expanded by 47%, demonstrating robust liquidity and effective balance sheet management.
Zenith Bank’s achievements have earned it multiple accolades, including being ranked Nigeria’s Number One Bank by Tier-1 Capital for the fifteenth consecutive year in The Banker’s Top 1000 World Banks ranking. It also won Bank of the Year (Nigeria) and Best Bank in Nigeria awards in multiple years, reinforcing its reputation as a leading financial institution.
