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Zenith Bank’s Directors Meet to Consider Interim Accounts, Dividend

Goddy Egene

Directors of Zenith Bank Plc will meet on July 26, to consider the bank’s audited half year results ended June 30, 2017.

In a notification to the Nigerian Stock Exchange (NSE) wednesday, Zenith Bank said its board of directors will meet on Wednesday, July 26, 2017 to consider the audited interim financial statements.

“The board will also consider among others, the proposal for the recommendation of the interim dividend for shareholders,” the bank said in the statement signed by the Company Secretary and General Counsel, Michael Otu.

Zenith Bank had paid an interim dividend of 25 kobo for 2016 before paying a final dividend of 177 kobo bringing the total dividend for the year to 202 kobo.

Market operators said shareholders should not expect anything less this year considering the performance of the bank and its directors’ assurance.

Addressing the shareholders at the annual general meeting (AGM) last March, Chairman of Zenith Bank Plc, Mr. Jim Ovia said that in line with the bank’s commitment to delivering superior returns to its much-valued shareholders, the bank ensured that a good chunk of the profit was set aside for shareholders.

“In this regard, we have declared and paid you an interim dividend of 25 kobo per share in the course of 2016 financial year. We hereby propose a final dividend of 177 kobo per share. This brings the total dividend for the year ended December 31, 2016 to 202 kobo per share as against 180 kobo per share paid the previous year,” Ovia said.

According to him, even in the face of a very challenging operating environment, Zenith Bank has maintained its culture of outstanding performance and industry leadership.

He added: “As a bank, we are monitoring developments both in the local and global economy and applying pragmatism and dynamism as appropriate. Our strategy and approach to the pursuit of financial inclusion and sustainability gives us a lot of competitive advantage to explore even new frontiers in the market.”

Also speaking, Group Managing Director/Chief Executive Officer of Zenith Bank, Mr. Peter Amangbo that although 2017 would be challenging, he expressed confidence that their determination, resolve and rare commitment to customers as well as their adaptive ability will ensure resounding results.

According to him, as an institution of well-primed people, the bank relied on its pool of exceptional staff to make sound and timely decision and address issues in a manner that anticipated developments and demonstrated excellent understanding of the dynamics of the market and economy all the time.