By Christopher Nnanta InvestAdvocate

Lagos (INVESTADVOCATE)-Zenith Bank Plc Friday proposed a 95 Kobo dividend payout to investors of the Bank in its Audited Year Ended December 31 2011; showing an increase of 11.76 percent (11.76%) in the review period.

This is contained in the Result Announcement of the Bank to the Nigerian Stock Exchange (NSE) and made available to www.investadvocateng.com in Lagos Nigeria.

To increase the dividend payout to 11.76%, the Bank in the Audited Year End 2010 paid shareholders 85 Kobo dividend compared to the proposed 95 Kobo in year 2011 end.

According to Zenith Bank in the Corporate Action notified its shareholders that the date of closure of register is 26th – 30th of March, 2012 while payment date is April 05 2012.

The Bank’s Annual General Meeting (AGM) is scheduled to take place on April 03, 2012 at the Civic Centre, Victoria Island in Lagos Nigeria.

In its Audited Result for 2011 end, Zenith Bank posted a Profit After Tax (PAT) of N44.189 billion in year 2011 compared to N37.414 billion in year 2010 end; indicating an increase in Profit of 18.1%.

Profit Before Tax (PBT) also grew from N50.026 billion in year 2010 to N60.698 billion in year 2011 end; showing a growth of 21.3% in the review period.

Gross Earnings also increased from N192.488 billion in year 2010 end to N244.070 billion in the Audited Period of year 2011; representing an increase of 26.8%.

Click to download Result Announcement from NSE