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Zenith Bank to Pay N97.33 Billion in Dividend for 2021 Financial Year

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Zenith Bank AGM 2021

Shareholders of Zenith Bank Plc, at the 31st Annual General Meeting (AGM) of the bank held on Wednesday, April 6, 2022, at the Civic Centre, Victoria Island, Lagos, unanimously approved the proposed final dividend, expressing delight at the final dividend payment of NGN2.80 per share which brings the total dividend for the 2021 financial year to NGN3.10 per share with a total value of NGN97.33 billion.

In his statement, the Founder and Chairman of Zenith Bank Plc, Mr Jim Ovia, CON, thanked the shareholders for their unflinching loyalty, which has enabled the bank to rise to the pinnacle of the nation’s financial services industry, and assured them of the bank’s commitment to consistently deliver superior value to them.

Speaking on the bank’s performance, the Group Managing Director/Chief Executive, Mr Ebenezer Onyeagwu, said: “if you look at the bank’s history over the years, Zenith Bank has always grown, and even within the pandemic, we have maintained a reasonable positive growth trajectory. Growth is coming from the fact that we are deploying our digital capability to grow more businesses, simplify our service processes, make our processes more efficient, and deal with customers’ complaints. Apart from developing new products, we are discovering new business verticals, especially within the retail segment, which have significant revenue.” He added that: “meeting the expectation of shareholders means we have to work harder. The team is dodged, hardworking, resilient, and above all, we have a very supportive board that comes with superior guidance”.

Commenting on the dividend payout, the Chairman Emeritus of the Independent Shareholders Association of Nigeria (ISAN), Sir Sunny Nwosu, expressed the delight of shareholders over the consistent payment of dividends by Zenith Bank, noting that the bank’s shares remain the toast of investors because the bank has never failed to pay dividends to shareholders.

Also speaking on behalf of shareholders, the President of the Association of the Rights of Nigerian Shareholders (AARNS), Dr Faruk Umar, said: “The bank is doing very well. All the ratios and indices have gone up. And more importantly, while we were in the meeting, I got my alert of the credit of my dividend. This is very commendable. The leadership of the bank has been very effective; we thank Jim Ovia for the leadership he has been giving, he has increased the dividend in spite of the economic hardship in the country, and I believe the GMD is doing very well. I commend the management and staff of the bank, including the board, and I am very confident that this year would also be very good for the bank.” Dr Faruk Umar also commended the Group Managing Director for the numerous awards the bank received in 2021, especially the sustainability awards.

In spite of a challenging macroeconomic environment aggravated by the COVID-19 pandemic, the Zenith Bank Group achieved year-on-year (YoY) growth in gross earnings of 10% from NGN696.5 billion reported in the previous year to N765.6billion. This was on the back of a 23% YoY growth in non-interest income from N251.7billion to N309billion and a 2% YoY growth in interest income from N420.8billion to NGN427.6billion.

Profit before tax also grew by 10%, from NGN255.9 billion to NGN280.4 billion in the current year. The increase was due to growth in the top-line and very strong management of the treasury portfolio that increased efficiency, resulting in a drop in interest expense by 12% from NGN121.1 billion in 2020 to NGN106.8 billion in the current year. This further led to a 7% increase in net interest income of NGN320.8 billion in 2021 from NGN299.7 billion in 2020.

Customer deposits increased by 21%, growing from NGN5.34 trillion in the previous year to NGN6.47 trillion in the current year. The growth in customer deposits came from both corporate and retail customers. Retail deposits grew by NGN146 billion from NGN1.72 trillion in 2020 to NGN1.87 trillion in 2021. The Group’s continuous drive for retail deposits combined with the strategic rebalancing of its funding base helped to reduce the cost of funding from 2.1% to 1.5% in the current year. Although operating expenses grew by 13% YoY, growth remains below the inflation rate, and the Group improved its Earnings per Share (EPS) which grew by 6% from NGN7.34 to NGN7.78.

Total assets increased by 11%, growing from NGN8.48 trillion in 2020 to NGN9.45 trillion in 2021, mainly driven by growth in customer deposits. With the steady recovery in economic activities, the Group prudently grew its gross loans by 20%, from NGN2.9 trillion in 2020 to NGN3.5 trillion in 2021, with moderated NPL ratio from 4.29% to 4.19% YoY. The Group recorded impressive liquidity and capital adequacy ratios of 71.6% and 21.0%, which remained above regulatory thresholds of 30% and 15%, respectively.

In recognition of its track record of excellent performance, Zenith Bank was voted as Best Commercial Bank in Nigeria in the World Finance Banking Awards 2021, Best Bank in Nigeria in the Global Finance World’s Best Banks Awards 2020 and 2021, Bank of the Year (Nigeria) in The Banker’s Bank of the Year Awards 2020, and Best in Corporate Governance ‘Financial Services’ Africa 2020 and 2021 by the Ethical Boardroom. Also, the bank emerged as the Most Valuable Banking Brand in Nigeria in the Banker Magazine Top 500 Banking Brands 2020 and 2021, Number One Bank in Nigeria by Tier-1 Capital in the “2021 Top 1000 World Banks” Ranking by The Banker Magazine and the Retail Bank of the year at the BusinessDay Banks and Other Financial Institutions (BOFI) Awards 2020 and 2021.

Similarly, Zenith Bank was honoured as Bank of the Decade (People’s Choice) at the ThisDay Awards 2020 and emerged winner in four categories at the Sustainability, Enterprise, and Responsibility (SERAS) Awards 2021, carting home the awards for “Best Company in Reporting and Transparency”, “Best Company in Infrastructure Development”, “Best Company in Gender Equality and Women Empowerment”, and the coveted “Most Responsible Organisation in Africa.

Is the CEO/Founder of Investors King Limited. A proven foreign exchange research analyst and a published author on Yahoo Finance, Nasdaq, Entrepreneur.com, Investorplace, and many more. He has over two decades of experience in global financial markets.

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Dividends

Dividends Announced in The Week Ended November 4, 2022

Here are the five listed companies that announced dividends for the third quarter of 2022 following a healthy financial statement.

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Dividend - Investors King

Here are the five listed companies that announced dividends for the third quarter of 2022 following a healthy financial statement.

Nestle Nigeria Plc:
Proposed Dividend: ₦25.00
Proposed Bonus: null FOR null
Qualification Date: 11/18/2022
Payment Date: 12/05/2022
Closure of Register Date: 11/21/2022

Presco Plc:
Proposed Dividend: ₦2.00
Proposed Bonus: null FOR null
Qualification Date: 11/21/2022
Payment Date: 11/25/2022
Closure of Register Date: 11/22/2022

AXA Mansard Insurance Plc:
Proposed Dividend: ₦0.06
Proposed Bonus: null FOR null
Qualification Date: 11/23/2022
Payment Date: 12/09/2022
Closure of Register Date: 11/24/2022

Okomu Oil Palm Plc
Proposed Dividend: ₦2.00
Proposed Bonus: null FOR null
Qualification Date: 11/15/2022
Payment Date:
Closure of Register Date: 11/16/2022

Airtel Africa Plc
Proposed Dividend: US2.18cent (United States Two point one eight Cents)
Proposed Bonus: null FOR null
Qualification Date: 11/09/2022
Payment Date: 12/09/2022
Closure of Register Date: 11/10/2022

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Airtel Africa to Pay Interim Dividend on December 9, 2022

Airtel Africa has confirmed that it will pay an interim dividend of 2.18 cents per ordinary share on or around December 9, 2022 to all shareholders of the company.

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Airtel Africa - Investors King

Airtel Africa has confirmed that it will pay an interim dividend of 2.18 cents per ordinary share on or around December 9, 2022 to all shareholders of the company.

The leading telecommunications company disclosed this in a statement obtained by Investors King.

According to the company, dividends will be paid in U.S. Dollars, except in a situation where shareholders elect to receive their dividend payments in Naira or Pounds Sterling through the company’s currency elections.

The dividend timetable dates are below:

Ex-dividend date: 10 November 2022
Record date: 11 November 2022
Last Date for Currency Elections: 28 November 2022
Payment date: On or around 9 December 2022

The company further stated that details regarding the default currency and options on currency election for the dividend, and the currency exchange rates that will be applicable in determination of the Half Year 2022-23 interim dividend payment to any shareholders that qualify for and have elected to receive the Half Year 2022-23 interim dividend payment in Pounds Sterling or Naira will be issued in due course.

Airtel Africa reports a 12.9% increase in revenue in the first half ended September 30, 2022 to $2,565m while the total customer base grew by 9.7% to 134.7 million.

During the period, mobile services revenue grew by 19.7% in Nigeria while in East Africa posted 12.4% and 12.1% increase was recorded in Francophone Africa.

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Dividends Announced in the Week Ended October 28, 2022

Last week, three listed companies announced their dividend for the third quarter of the year.

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Dividend - Investors King

Last week, three listed companies announced their dividend for the third quarter of the year. The three companies are Nigerian Breweries Plc, Seplate Energy Plc, and TotalEnergies Marketing Nigeria Plc.

Nigerian Breweries Plc:
Proposed Dividend: ₦0.40
Proposed Bonus: null FOR null
Qualification Date: 11/23/2022
Payment Date: 12/01/2022
Closure of Register Date: 11/24/2022

According to the company’s unaudited financial statement released last week for the nine months that ended 30th September 2022, profit after tax grew by 80.1% to N14.7 billion, up from N8.6 billion recorded in the same period of 2021

Nigerian Breweries grew revenue by 27.2% from N309.2 billion in 2021 to N393.4 billion in the current period.

Also, the cost of sales stood at N238.9 billion, a 20.22% increase from N198.7 billion filed in the corresponding period of 2021.

Basic Earnings Per Share expanded by 80% to 182 kobo in 2022 from 107 kobo in 2021.

Seplat Energy Plc:
Proposed Dividend: US2.5cent (United States Two Point Five Cents)
Proposed Bonus: null FOR null
Qualification Date: 11/10/2022
Payment Date: 12/06/2022
Closure of Register Date: 11/11/2022

Seplat remained consistent in the first nine months, growing profit after tax by 90.3% from N38.6 billion year-on-year to N77.5 billion.

Cash generated from operations stood at N154 billion, a whopping 124.7 % increase when compared to N64.9 billion filed in the first nine months of 2021.

Growth was broad-based as revenue by 34.4% to N258.7 billion from N182.7 billion year-on-year. Its gross profit soars to N118.5 billion from N58.1 billion year-on-year, rising by 93.5%.

TotalEnergies Marketing Nigeria Plc:
Proposed Dividend: ₦4.00
Proposed Bonus: null FOR null
Qualification Date: 11/18/2022

Payment Date: 12/05/2022
Closure of Register Date: 11/21/2022

Despite revenue increasing by 39% to N337.188 billion from N242.224 billion year-on-year, profit before tax dipped by 5% to N18.783 billion in the first nine months of 2022.

Profit for year also declined by 7% from N13.386 billion to N12.506 billion.

 

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