Zenith Bank, a large financial service provider in Nigeria and Anglophone West Africa has approved the payment of N125.6 billion to its shareholders at N4.00 per share for the 2023 financial year.
This is according to the bank’s Annual General Meeting resolution signed by Michael Otu, company secretary at Zenith Bank and released by the Nigerian Exchange Group on May 9, 2024.
The statement said the total dividend for the 2023 financial year will amount to N4.00 per share and a gross dividend of N125.6 billion and that the directors were authorised to give effect to this resolution.
“In the event of a Rights Issue, any shares not taken up by existing shareholders within the period stipulated under the Rights issue may be offered for sale to other interested shareholders of the bank on such terms and conditions as may be determined by the directors subject to the approvals of the relevant regulatory authorities,” it stated.
The board of directors of Zenith Bank were authorised to establish a capital raising programme of up to the authorised capital of the company, through the issuance of ordinary shares, or preference shares, whether by way of a public offering, private placement, rights issue or both, or any other method or combination of methods, in such tranches, series or proportions and at such dates, and conditions as may be determined by the Board subject to obtaining the requisite regulatory approvals.
Zenith Bank stated the appointment of PricewaterhouseCoopers as external auditors of the bank.
Juliet Ehimuan who was the non-executive director was approved as director of Zenith Bank.
At the AGM, Al-Mujtaba Abubakar, Omobola Ogunfowora and Henry Oroh were re-elected as directors of the bank.
“Mustafa Bello, who has attained the age of 70 years since the last general meeting, having informed the Company and being eligible for re-election, willing and able, has offered,” the statement said.
