Zenith Bank Plc has paid N486.15 billion dividends from distributable profit to its shareholders, that validates solid earnings and consistent payout between 2015 and 2022, .
In the last eight years, the tier-one lender has recorded 77.77 percent dividend growth to investors who wish to minimise risk and maximise returns.
It has announced a final dividend of N2.90 for every N0.50 (bringing the total dividend for the financial year December 31, 2022, to N3.20), subject to the approval of shareholders at the annual general meeting.
The Bank has a dividend yield of 12.40 percent, the second highest return in the industry. A price to earnings multiples of 3.40 means the shares are attractive.
A break-down of payout shows the lender declared N1.80 dividend for every N0.50 shares in 2015; N1.80 in 2016; N2.02 in 2017, N2.70 in 2018, N2.80 in 2019, N2.80 in 2020, N3 in 2021, and N3.20 in 2022, according to data from the company’s website.
As at 31 December 2022 the Group had 446 branches, 166 cash centers; 2,108 ATM terminals; 233,024 POS terminals and 21,832,175 cards issued to its customers, compared to: 443 branches, 188 cash centers, 2,086 ATM terminals, 163,398 POS terminals and 14,743,191 cards issued as at 31 December 2021.
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