Shareholders have approved the payment of 2.80k dividend per share by the board of Zenith Bank which added to the earlier interim dividend of 30k to reach a total of 3.10k for 2021 financial year.
The bank’s shareholders rained accolades on the board for the dividend which amounted to a whopping N97.33 billion total dividend for the 2021 financial year.
This was part of the key developments at the 31st the Annual General Meeting of the Bank, in Victoria Island, Lagos.
Coordinated by Mr. Jim Ovia the Chairman of the Bank, it was an opportunity for the board to engage the shareholders on the 2021 financial year performance.
Chief Timothy Adesiyan a Patron of Nigerian Shareholders Solidarity Forum (NSSF) commended the bank for its constant drive for innovation, payment of the total dividend of 3.10k and the launch of the “SME Grow My Business Initiative”.
Adesiyan called for the strengthening of the cybersecurity framework of the bank considering the developments driven by emerging technologies.
Dr. Farouk Umar a seasoned shareholder group leader in his remarks said that Zenith Bank was remarkable, despite the socio-economic challenges in the country.
He was impressed with the fact that the bank recorded growth in gross earnings, total assets and shareholder funds.
For Sir Sunny Nwosu the pioneer Chairman of Independent Shareholder Association of Nigeria (ISAN), the bank has sustained its top level performance but decried the surge in AMCON levy (Asset Management Corporation of Nigeria) which increased to N37.2 billion in 2021. He called on the bankers committee to take a decisive step on the levies.
Speaking further he raised concerns over the unclaimed dividends which was put at N28.65 billion for 2021 FY and stressed the need for the shareholders, registrars and company secretary to work together and find a lasting solution.
Other shareholders Mrs. Bisi Bakare and Mr. Okezie Boniface commended the board and called for a consolidation on the gains of 2021, which should lead to better dividend payment for shareholders in 2022.
Mr Nona Awoh on his part called on the Group to ensure that its subsidiaries are efficient in service delivery, creating value for the financial institution.
The Group Managing Director/CEO of Zenith Bank Mr. Ebenezer Onyeagwu in his response assured shareholders that it will continue to maintain the strong culture of innovation, creativity and improve activities in the retail sector.
Onyeagwu said the bank will continue to invest in technology, cybersecurity and increase the drive for digital literacy in Nigeria.
Highlights of the AGM was the re-election of Mr. Jim Ovia as a Non-executive Director of the bank.
