The Group Managing Director and Chief Executive Officer, Zenith Bank Plc, Ebenezer Onyeagwu has purchased additional 5 million shares of Zenith Bank.
The leading bank disclosed in a statement issued through the Nigerian Stock Exchange on Monday.
Ebenezer Onyeagwu purchased the 5 million shares in four different transactions on Friday, March 19, 2021.
The GMD/CEO acquired 2 million shares at N22.25 a share before adding another 1 million shares at N22.30 per share on the same day.
He then increased his holdings by another 1.5 million shares of the bank at N22.60 a unit.
Finally, he bought 500,000 shares at N22.65 per unit to take the total purchase for that day to 5 million at an average price of N22.41 and valuation of N112.050 million.
Recently, executives at Zenith Bank have been dumping millions on the company’s share in a robust insider trading.
In December 2020, Temitope Fasoranti, an executive director of the bank, bought 1 million shares at N23.65 million valuation while another executive Dennis Olisa dumped another N53.6 million on 2 million shares of Zenith Bank on February 24, 2021.
These transactions were carried out ahead of the bank’s 2020 dividend declaration. The shareholders of the bank approved a final dividend of N2.70k for the year, this means Dennis Olisa will pocket an additional N5.4 million while Fasoranti will take home an extra N2.7 million.