Zenith Bank to distribute N84.8bn dividend for 2017 business year

Zenith Bank Plc is to distribute N84.8 billion as cash dividend to shareholders for the 2017 business year, its Board of Directors has announced.

The recommended payout represents 33.7 per cent increase on N63.42 billion paid for the 2016 business year.

This means that shareholders will receive a final dividend per share of N2.45, in addition to an interim dividend of 25 kobo, bringing total dividend per share to N2.70.

The bank had distributed N63.42 billion to shareholders for the 2016 business year, representing a dividend per share of N2.02.

The increase in dividend payout underlined the improvement in the performance of the bank in 2017.

The audited report and accounts of zenith bank for the year ended December 31, 2017 showed that gross earnings rose by 46.7 per cent from N508 billion in 2016 to N745.19 billion in 2017.

Also, profit before tax increased from N156.75 billion to N203.46 billion.

After taxes, net profit rose by 37 per cent to N177.93 billion in 2017 as against N129.65 billion recorded in 2016. Earnings per share thus improved from N4.12 in 2016 to N5.66 in 2017.

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