Zenith Bank shareholders endorse N62.7bn dividend


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Zenith Bank shareholders endorse N62.7bn dividend
Posted on: April 07, 2016, 02:37:52 AM
Shareholders of Zenith International Bank plc have approved the payment of N62.79 billion dividends earlier recommended by Board of Directors of the bank for the year ended December 31, 2015. This translates to N1.80 per share dividend payable to shareholders whose names appeared on the register of members as at March 24, 2016.

Nigerian Stock Exchange

Speaking on behalf of other shareholders at the Annual General Meeting (AGM) in Lagos,  the trio of Sir Sunny Nwosu, National Coordinator, Independent Shareholders Association of Nigeria ( ISAN); Mr. Boniface Okezie,  National Chairman,  Progressive Shareholders Association of Nigeria ( PSAN); and Timothy Adesinya commended the bank on the performance and dividend recommended,  saying that it is in tandem with shareholders’ expectations.

They observed that the performance was commendable in view of the global economic climate,  regulatory headwinds and inconsistent policy pronouncements under which the bank operated.

Sir Sunny Nwosu also commended the bank for achieving 2.2 per cent Non-performing Loan (NPL) ratio, which is far below five per cent regulatory requirements.

Earlier in his address, the Chairman,  Mr. Jim Ovia, said: “2015 has been an interesting,  challenging and successful year for Zenith Bank. However, the concerted efforts of all our