Home Business Shareholders Applaud Zenith Bank Management, Approve N55bn Dividend

Shareholders Applaud Zenith Bank Management, Approve N55bn Dividend

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Zenith Bank Plc 24th Annual General Meeting was held in Lagos last week, where the shareholders commended the Board of Directors for the N1.75k dividend, saying it was impressive.

The shareholders unanimously approved the N54.943bn dividend proposed by its board for the financial year ended 31st December 2014,

The Shareholders Group said despite the challenges in the environment and the harsh economy witnessed in the country, the bank worked assiduously to produce an impressive result, which resulted in paying the shareholders a huge sum of N54.943bn as dividend.

Speaking at the event, the President of Nigeria Shareholders Solidarity Association (NSSA), Mr. Timothy Adesiyan, said: “We appreciate the board and management for the dividend and the strategies put in place especially in areas of training the staff, which reflected in the result of the bank”.

The National Coordinator of Independent Shareholders association of Nigeria, Mr. Sunny Nwosu, said the bank had done well in 2014 by giving shareholders dividend.

He encouraged the management to maintain its good corporate governance principles, which he said impacted on the bank’s profitability.

Meanwhile, the Chairman of the bank, Jim Ovia, said without doubt, 2014 was another challenging year for operators in the banking industry but the bank was able to exploit the opportunities within the environment.

Ovia assured shareholders that despite emerging challenges, the bank would continue to improve on its performance, adding that Zenith Bank would continue to place a very high premium on staff quality, welfare and training as the staff remains the most valuable resource for the bank’s successful operations.

The Bank’s Managing Director/ CEO, Peter Amangbo, said the bank was able to endure all challenges and difficulties to become the biggest bank in Nigeria by Tier-1 capital, showing strength in assets size, liquidity, profitability, asset quality and capitalization.

He added that the bank would continue to develop and positively contribute to strengthen partnership, solidarity and cooperation between all stakeholders relevant to the business and sustainable existence.

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