By InvestAdvocate
Lagos (INVESTADVOCATE)-Nigeria’s top lender, Zenith Bank Plc on Wednesday approved the payment of N1.80 per share dividend to its shareholders at its 25th Annual General Meeting (AGM) held in Lagos.
The board of directors of the Bank had earlier proposed a final dividend of N1.55 kobo per share which in addition to the N0.25 kobo per share paid as interim dividend amounting to N1.80 per share from the retained earnings account as at December 31, 2015. It paid N1.75 kobo per share in its 2014 year end.
A review of audited report shows that pretax profit for the period ended December 31, 2015 rose 4.85 percent to N125.62 billion from N119.79 billion recorded a year ago.
Similarly, profit after tax (PAT) increased 6.24 percent to N105.66 percent to N99.45 billion posted the same period of 2014.
Gross earnings of Zenith Bank grew from N403.34 billion in 2014 audited year end to N432.53 billion in the review period of 2015; showing a growth of 7.24 percent, the lender said in a filing with the Nigerian Stock Exchange (NSE).
Jim Ovia, chairman of Zenith Bank while addressing shareholders at the AGM, said 2015 was marked by significant global and domestic macroeconomic developments, which impacted the business in many ways.
“But the resilience of our bank has enabled us to successfully weather through these economic headwinds,” he said.
Shares of Zenith at the close of Wednesday’s trading on the Nigerian bourse rose 0.09 percent to N11.01 per share from N11.00 traded the previous session; gaining 0.01 kobo per share.
