Zenith Bank Plc has announced a substantial reward for its shareholders with a total dividend payout of ₦410.69 billion for the 2025 financial year, as the bank formally appointed Engr. Mustapha Bello as its new Chairman during its 35th Annual General Meeting (AGM).
The AGM, held on Tuesday, May 5, 2026, at the Civic Centre, Victoria Island, Lagos, saw shareholders approve a final dividend of ₦8.75 per share. This brings the full-year dividend to ₦10.00 per share.
The meeting also marked the retirement of the bank’s founder, Jim Ovia, CFR, as Chairman after completing the mandatory 12-year tenure as stipulated by Central Bank of Nigeria (CBN) corporate governance guidelines. In his valedictory remarks, Ovia expressed gratitude to shareholders and announced the board’s nomination of Engr. Mustapha Bello , the longest-serving Non-Executive Director as his successor. The appointment has received CBN approval.
“I am expected to serve for 12 years. Having served that term, I’ll be retiring at this AGM,” Ovia said. “For continuity, the Board met and nominated Engineer Mustafa Bello as the next Chairman. Engineer Bello is the longest serving Board Member and has a good understanding of the Bank.”
Group Managing Director/CEO, Dame Dr. Adaora Umeoji, OON, highlighted the bank’s strong performance, noting a 100% increase in dividend payout compared to the previous year. She reaffirmed the bank’s commitment to delivering greater shareholder value.
For the 2025 financial year, Zenith Bank reported a Profit Before Tax of ₦1.26 trillion and a Profit After Tax of ₦1.04 trillion, becoming the first Nigerian bank to cross the ₦1 trillion mark in both metrics for two consecutive years. Gross earnings rose to ₦4.19 trillion, while total assets grew by about 11%.
Shareholders expressed satisfaction with the results. Mrs. Bisi Bakare of the Pragmatic Shareholders Association commended the dividend and expressed optimism for even higher payouts in 2026. Chief Timothy Adesiyan of the Shareholders Solidarity Association praised the bank’s management for strong succession planning and consistent performance.
The bank’s solid asset quality, with a non-performing loan ratio of 3.82%, and continued recognition for corporate governance underscore its resilience in the current economic environment.
Advertise on NigerianEye.com to reach thousands of our daily users
No comments
Post a Comment
Kindly drop a comment below.
(Comments are moderated. Clean comments will be approved immediately)
Advert Enquires - Reach out to us at NigerianEye@gmail.com