ZENITHBANK Grew 2020 Post-Tax Profit to N231bn, Offers Investors +7.14% Dividend Increase

By Peter OBIORA InvestAdvocate

Lagos (INVESTADVOCATE)-Nigeria’s top tier lender Zenith Bank Plc on Tuesday said its post tax profit for the financial year ended December 31, 2020 grew 10.4 percent to N230.5 billion from N8208.8 billion recorded a year earlier.

Pretax  profit of the lender in the review period also increased 5.2 percent to N255.8 billion from N243.3 billion  declared the same period of last year.

Gross earnings increased to by 5.0 percent to N696 billion from N662 billion in the previous period of 2019, ZENITH said in a filing with the Nigerian Stock Exchange (NSE).

The lender in its corporate action to the NSE, proposed a final dividend of N2.70 kobo per share including the earlier paid 0.30 kobo per share interim dividend during the half year (H1) period ended June 30, 2020, culminating to N3.00 per share amounting to 7.14 percent increase in the review period compared to N2.80 dividend paid out in the 2019 financial year end.

The top tier lender says, qualification and closure payment dates are March 8 and March 9, 2021 respectively, while annual general meeting (AGM) and payment dates has been scheduled for March 16, 2021.

Shares of ZENITHBANK at the close of trading on the floor of the domestic bourse grew 4.84 percent to N26.00 from N24.80 recorded the previous session; indicating a gain of N1.20 kobo per share.

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