Shareholders of Zenith Bank Plc, has approved a final dividend of ₦4.00 per share for the 2024 financial year, bringing the total dividend to ₦5.00 per share, valued at ₦195.67 billion.
The lender got the approval at the bank’s 34th Annual General Meeting (AGM) held on Tuesday, April 29, 2025, at the Civic Centre, Victoria Island, Lagos.
Founder and Chairman of Zenith Bank Plc, Jim Ovia, expressed gratitude to shareholders for their unwavering support, which he credited for the bank’s consistent growth.
“Despite global challenges in 2024, Zenith Bank was able to leverage the unique opportunities in each market it operates in, proving the resilience of our brand,” he said.
Group Managing Director/CEO, Dame Dr. Adaora Umeoji, also thanked shareholders for their trust and support.
“This is the first time I am addressing the AGM as the first female GMD/CEO of Zenith Bank. I thank you for the confidence and support that brought me to this position,” she stated.
Umeoji reaffirmed the bank’s commitment to sustainable growth and high returns.
“Zenith Bank is not just focused on meeting your expectations but exceeding them. We aim to build a resilient institution that will outlive generations. Looking at our dividend trajectory, we’ve consistently increased payouts.
“With a 160% subscription in our recapitalization exercise, we are under no pressure to raise more funds. We have a solid capital buffer and will continue growing organically, guided by strict corporate governance,” she added.
Dr. Faruk Umar, President of the Association of the Rights of Nigerian Shareholders (AARNS), praised the GMD for strengthening the bank’s financials. “We are very happy with the ₦5 dividend. Dame Dr. Umeoji has done remarkably well—she even won Banker of the Year. Profits and shareholders’ funds are now in trillions, which is exceptional,” he said.
Echoing this, Alhaji Otunba Mukhtar Mukhtar, Chairman of Trusted Shareholders Association of Nigeria, lauded the bank’s consistency. “Zenith’s dividend payouts remain unmatched in Nigeria. They crossed the ₦1 trillion threshold in both PBT and PAT. The shareholders are clearly pleased with the results,” he noted.
Ambassador Dr. Olatunde Okelana, Balogun Olugbon of Orile-Igbon, Oyo State, said, “Zenith Bank investment has been my best. Their dividend policy is unmatched, and their CEO is one of the best in Nigeria’s banking sector. I want to tell Nigerians—invest in Zenith. It is the best in the capital market.”
Chief Timothy Adesiyan, President of the Shareholders Solidarity Association of Nigeria, commended the bank for fulfilling its dividend promises. “I’m proud to be both a shareholder and customer. With Zenith, your money is safe—you can sleep easy knowing someone is looking after your investment,” he said.
Zenith Bank’s 2024 financial performance underscored its strong fundamentals.
The Group posted an 86% increase in gross earnings, rising from ₦2.13 trillion in 2023 to ₦3.97 trillion.
This was driven by a 138% rise in interest income, boosted by investments in high-yield government securities and an expanded loan book. Customer deposits grew by 45%, while total assets surged 47%—all reflecting robust liquidity and effective balance sheet management.
Zenith Bank’s excellence continues to earn global recognition.
The bank was named Nigeria’s Number One Bank by Tier-1 Capital for the 15th consecutive year in The Banker magazine’s 2024 Top 1000 World Banks ranking.
The bank also won The Banker’s Bank of the Year (Nigeria) award in 2020, 2022, and 2024, and was named Best Bank in Nigeria by Global Finance in 2020, 2021, 2022, and 2024.
