The Group Managing Director and CEO of Zenith Bank PLC, Dame Dr. Adaora Umeoji, has expressed strong confidence in the bank’s future, assuring shareholders of the bank’s commitment to delivering higher and more sustainable dividends in the years ahead.

This was disclosed by Umeoji during the 34th Annual General Meeting of the Bank.

“For the question of dividend, I am sure that is what excites shareholders… We need to pay more dividends. If you look at the dividend payment trajectory over the years, we have always increased what we paid and we will continue to do that,” she told shareholders.

Speaking to a packed AGM floor, Dr. Umeoji reaffirmed Zenith Bank’s strategy of creating an efficient, resilient, and sustainable institution—one that will not only overcome macroeconomic challenges but also endure for generations to come.

This forward-looking assurance resonated deeply with investors, particularly given the bank’s recent recapitalization exercise, which the CEO revealed was oversubscribed at 160%, far exceeding expectations.

“We are not under pressure to go for a second plan to raise money. We have a robust capital buffer. Which means we are ready to delight our shareholders,” she assured.

“I know shareholders are looking for a quantum leap, and we are equal to the task,” she added.

Zenith Bank has consistently increased its dividend over the years, even amid macroeconomic uncertainty.

In the 2024 financial year, Zenith Bank paid a total of N5.00 per share in interim and final dividends, amounting to N195.68 billion—one of the largest payouts in the Nigerian banking sector.

This was based on a profit after tax of N1.03 trillion, resulting in a payout ratio of 18.94%.

At current market prices, this translates to a dividend yield of 10.53%, making it one of the most attractive in the market.

Meanwhile, the total shareholder return for 2024 is even more impressive. With both capital appreciation and dividends factored in, Zenith Bank delivered a 70.2% total return for the year.

The bank’s market capitalization increased from N1.213 trillion at the beginning of the year to N1.869 trillion by year-end.

From 2020 to 2024, Zenith Bank distributed N613.25 billion in dividends, sourced from cumulative profits of N2.41 trillion.

This represents a 5-year compound annual growth rate (CAGR) of 20% in dividend payments, a clear demonstration of commitment to shareholder returns.

In the first quarter 2025 alone, Zenith Bank reported a 20.7% growth in profit after tax, reaching N311.83 billion, already accounting for over 30% of 2024’s full-year earnings.