The board of directors of Zenith Bank Plc has proposed a final dividend of N2.45 kobo per share for the full year ended December 31, 2017.
The final dividend is in addition to the 25 kobo interim dividend that was paid last year. Amounting to N2.70 kobo total dividend for the 2017 financial year.
According to the audited account which was presented to the Nigerian Stock Exchange (NSE) on Monday March 12, 2018, the register of members will close from April 4 to 9, 2018.
While payment will be made electronically to shareholders whose names appears in the register of members on April 13, 2018. GDR holders will be paid after the local payment date.
This year Annual General Meeting (AGM) will be held at Shehu Musa Yar’Adua Centre Abuja on April 13, 2018.
A breakdown of the financial performance shows that gross earnings was up by 46.69 percent from N507,997 billion in 2016 to N745,189 billion in 2017.
Profit before tax grew from N156,748 billion in 2016 to N203,461 billion in 2017.
Also profit after tax moved from N129,652 billion in 2016 to N177,933 billion in 2017. Basic earnings per share stood at 566 as against 412 that was recorded same period in 2016.
The Bank was incorporated in Nigeria under the Companies and Allied Matters Act as a private limited liability company on 30 May, 1990.
It was granted a banking licence in June 1990, to carry on the business of commercial banking and commenced business on June 16, 1990.
The Bank was converted into a Public Limited Liability Company on 20 May 2004.
The Bank’s shares were listed on the floor of the Nigerian Stock Exchange on 21 October 2004.
In August 2015, the Bank was admitted into the premium Board of the Nigerian Stock Exchange.
The principal activity of the Bank is the provision of banking and other financial services to corporate and individual customers. Such services include obtaining deposits from the public, granting of loans and advances, corporate finance and money market activities.
The Bank has six subsidiary companies namely, Zenith Bank (Ghana) Limited, Zenith Pensions Custodian Limited, Zenith Bank (UK) Limited, Zenith Bank (Sierra Leone) Limited, Zenith Bank (The Gambia) Limited and Zenith Nominees Limited. During the year, the Bank incorporated Zenith Nominees Limited but the entity is yet to commence operations. During the year, the Bank opened one new branch. No branch was closed during the year.