Zenith Bank declares N56.5b dividend on N106b profit

Nigeria’s second most capitalised stock, Zenith Bank International Plc, recorded a net profit of N105.66 billion in 2015 as top-line earnings and bottom-line improved.

The audited report and accounts of Zenith Bank for the year ended December 31, 2015 indicated that gross earnings rose from N403.34 billion in 2014 to N432.54 billion in 2015. Profit before tax rose by 4.86 per cent from N119.8 billion in 2014 to N125.62 billion in 2015. Profit after tax rose to N105.66 billion in 2015 as against N99.46 billion in 2014. With this, earnings per share improved from N3.16 in 2014 to N3.36 in 2015.

In line with the industry-wide provisioning for non-performing loans, Zenith Bank’s non-performing loan ratio dropped from 1.8 per cent in 2014 to 2.2 per cent in 2015.

Read also: UBA records N60b pre-tax profit

The board of directors of the bank has recommended distribution of N56.51 billion to shareholders as cash dividends for the 2015. This implied final dividend per share of N1.55, bringing total dividend per share for the year to N1.80.

The bank had earlier paid an interim dividend per share of 25 kobo. Zenith Bank paid a dividend per share of N1.70 for the 2014 business year.

Overall, total dividend for the 2015 business year is N56.51 billion as against N53.37 billion distributed for the 2014 business year.

 

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