Zenith Bank shareholders approve N1.60kobo dividend

Shareholders at the 22nd annual general meeting (AGM) of Zenith Bank plc held Wednesday in Lagos approved that the bank should go ahead and pay N1.60kobo dividend for every share of 50 kobo for the financial year ended December 31, 2012.

Zenith Bank plc recorded a profit before tax (PBT) of N102.10billion for the financial year ended December 2012, up by 51.4 percent from the N67.44billion recorded in 2011.

The bank’s profit after tax (PAT) for the period was N100.68billion, which represents a 106.7 percent increase from the N48.70billion recorded in the corresponding period in 2011.

Other highlights of the results showed that gross earnings rose by 25.88 percent from N243.94billion to N307.08billion, indicating an increasing market share.

Read also: Sharing Zenith Bank’s growth testimony with shareholders

Speaking at the AGM, Godwin Emefiele, group managing director, chief executive officer, Zenith Bank plc said in 2012, Zenith Bank plc consolidated on the steady progress recorded in the preceding year.

He said: “As a result, we are now in better and stronger position to surpass our achievements thus far with greater optimism and clear vision. The operating results of 2012 indicated an impressive performance in all parameters giving credence to the increasing market share and acceptance of our brand by the Nigerian and international banking public.”

Emefiele told shareholders that “the result confirms Zenith’s leadership position in the industry as it became the first to cross the N100billion Profit after Tax (PAT) mark in the financial year.”