Home Business Zenith Bank Revises Payment Date of H1 Interim Dividend

Zenith Bank Revises Payment Date of H1 Interim Dividend

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Zenith Bank plc has postponed N0.30 half year  (H1) interim dividend payment from September 2 to September 4, 2019.

The management of the bank had proposed interim dividend of N0.30 for the half year ended June 30, 2019.

The statement by Company Secretary, Zenith Bank, Mr. Michael Otu on the Nigerian Stock Exchange on Thursday noted that, “The change was necessitated by the need to ensure that all transactions executed on the qualification date of August 29, 2019 have been settled and all eligible shareholders are determined.”

According to the statement, “Further to the publication of the audited financial statement of Zenith Bank plc for the half year ended June 30, 2019 on August 19, 2019 whereby the board of directors declared an interim dividend of 30kobo per share with a closure of register date of August 30, 2919 and payment date of September 2, 2019, the bank wishes to notify the Nigerian Stock Exchange and the investing public that the payment date for the dividend has been changed to  Septemeber 4, 2019.”

The Bank had announced four per cent increase in profit before tax in its audited result and accounts for the half year (H1) ended June 30, 2019.

The financial institution in its accounts to on the NSE reported N111.7 billion profit before tax in H1 2019 from N107.4 billion in H1 2017.

Consequently, profit for the period grew by 8.7 per cent to N88.9 billion in H1 2019 from N81.7 billion reported in H1 2018.

The lender also reports about three per cent increase in gross earnings to N331.6 billion in H1 2019 as against N322.2billion reported in H1 2018.

Zenith Bank grew total assets, attributable to improved total liabilities and total equity. The group’s total assets grew by 12.2 per cent to N5.9 trillion as at June 30, 2019 from N5.26trillion reported in full year ended December 31, 2018.

The group’s total liabilities also gained 11.9 per cent to N5.08trillion as at June 30, 2019 from N4.54trillion reported in 2018.

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