Zenith Bank combined offer now closes on September 23

Zenith Bank Plc issue of N289.38 billion Combined Offer (public offer and rights issue) is still open to the investing public and existing shareholders. The closing date has been extended and will now close on Monday September 23, 2024 as against September 9 it would have closed. The combined offer opened on August 1.

Zenith Bank Plc is in the market for Rights Issue of 5,232,748,964 Ordinary Shares at N36 per share and Offer for Subscription of 2,767,251,036 ordinary shares at N36.50 per share. Zenith rights issue to existing shareholders is on the basis of one new ordinary share for every 6 ordinary shares held. The bank targets N188 billion from the rights issue and N101billion from the offer for subscription.

The Nigeria’s tier-1 lender recently disclosed its plans to pay a sum of N1 per share as interim dividends to all registered shareholders on September 20, 2024. The declared interim dividend of N1 per share represents the highest half-year (H1) dividend payout in its history.

In its recently announced audited results for the half-year ended June 30, 2024, Zenith Bank gross earnings grew by 117 percent from N967.3 bil­lion in the first half of 2023 to N2.1 trillion in the first half of 2024.

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The Group’s profit after tax (PAT) grew by 98 percent from N291.7 billion in the first half of 2023 to N577.8 billion in the first half of 2024.

Profit before tax (PBT) for the group also grew by 108 percent year-on-year (YoY) from N350 billion in the first half of 2023 to N727 billion in the same period of 2024.

For the bank, profit before tax (PBT) rose in the first half of 2023 from N318.6 billion to N639.2 billion in the first half of 2024.

Meanwhile, the bank’s profit after tax (PAT) rose from N274.5 billion in the first half of 2023 to N522.9 billion in the first half of 2024.

According to a recent statement, “dividends will be paid electronically to shareholders whose names appear on the Register of Members as of September 13, 2024, and who have completed the e-dividend registration and mandated the Registrar to pay their dividends directly into their Bank accounts.”

“Dividend Shareholders with dividend warrants and share certificates that have remained and Share unclaimed, or are yet to be presented for payment or returned for validation are advised to complete the e-dividend registration or contact Veritas Registrars Limited,” the report said.