H1’21: Zenith Bank to pay out N9.4bn as interim dividend

…Pre-tax profit up 2.6% to N117.05bn

Zenith Bank Plc has released its audited financial report for the half-year (H1) to June 30, 2021. Highlights of the Group’s operating results for the period under review show that gross earnings flattened by 0.15percent to N345.55billion, from a high of N346.08billion recorded in the half-year (H1) of 2020.
The Board of Directors of Zenith Bank Plc, pursuant to the powers vested in it by the provisions of section 426 of the Companies and Allied Matters Act (CAMA 2020) of Nigeria, proposed an interim dividend of 30kobo per share (same as in H1’2020) from the retained earnings account as at June 30, 2021.

This will be presented for ratification by the shareholders at the next Annual General Meeting. The qualification date is September 10, 2021. Zenith Bank Plc has 31,396,493,786 in shares outstanding, which means that it will pay interim dividend worth N9.42billion, subject to withholding tax (WHT).

The bank’s profit before tax (PBT) of N117.05billion in half-year of 2021 represents an increase by 2.6percent when compared to N114.12billion pre-tax profit in H1’2020. Profit after tax (PAT) of N106.119billion in H1’21 represents an increase by 2.21percent as against after tax profit of N103.826billion in H1’20.

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In the half-year period to June 30, the bank’s basic and diluted earnings per share increased slightly to N3.38 from N3.30 in H1’2020.

The bank’s shares on the Nigerian Exchange Limited witnessed buy activities on Friday August 27, which pushed the price higher by 10kobo or 41percent to N24.3 as at 1.37pm. The stock price nears its 52-week high of N28.5 as against a 52-week low of N16.05.

Zenith Bank Plc has six subsidiary companies namely, Zenith Bank (Ghana) Limited, Zenith Pensions Custodian Limited, Zenith Bank (UK) Limited, Zenith Bank (Sierra Leone) Limited, Zenith Bank (The Gambia) Limited and Zenith Nominees Limited.

During the review half-year period, Zenith Bank Plc did not open any new branch and neither was any existing branch closed.

As at June, 30, 2021 the Group had 438 branches, 178 cash centers; 2,051 ATM terminals; 136,583 POS terminals and 12,275,259 cards issued to its customers. As at December 31, 2020, the bank had 436 branches, 177 cash centers, 2,042 ATM terminals, 83,766 POS terminals and 9,905,449 cards issued.

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