Zenith Bank Approves N125.6 Billion Dividend Payment for 2023

Zenith Bank, a major player in Nigeria’s financial sector, has approved a substantial dividend payment of N125.6 billion for the 2023 fiscal year, equivalent to N4.00 per share. The resolution, announced by Michael Otu, Zenith Bank’s company secretary and disclosed by the Nigerian Exchange Group on May 9, 2024, reflects the bank’s strong financial performance. Alongside the dividend declaration, the resolution grants the board authority for various corporate actions, including a capital raising program. The AGM also saw key decisions regarding board composition and considerations for Mustafa Bello’s re-election. Additionally, provisions for a potential Rights Issue demonstrate the bank’s proactive approach in navigating the financial landscape while prioritizing shareholder value.