ZENITHBANK Says 2017 Post-Tax Profit Climb 37.20%, Proposes N2.45 Kobo Final Dividend

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By Abdulquddus OKELE InvestAdvocate

Lagos (INVESTADVOCATE)-Nigeria’s top tier lender Zenith Bank Plc on Monday said its post-tax profit for the period ended December 31, 2017 climbed up 37.20 percent to N177.93 billion from N129.65 billion recorded a year earlier.

Pretax profit for the review period also appreciated 29.80 percent to N203.46 billion from N156.74 billion  declared the same period of last year.

Gross earnings of the tier one lender grew to N745.19 billion in the 2017 year end from N507.99 billion in the corresponding period of 2016; indicating a growth of 46.70 percent, ZENITHBANK said in a filing with the Nigerian Stock Exchange (NSE).

The tier one lender proposed a final dividend of N2.45 per share dividend to shareholders in addition to the interim dividend of N0.25 culminating to N2.70 compared to N2.02  paid in 2016 end; indicating an increase of 33.66 percent in the review period, this represents a dividend yield of 7.90 percent based on the close price of N31.00 as at March 12, 2018.

Zenith says closure date for the proposed dividend is between April 4 to April 9, 2018, while qualification and payment dates has been scheduled for April 3 and April 13, 2018 respectively.

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