Zenith Bank raises dividend to N1.50 despite profit decline

Zenith Bank Plc has proposed an interim dividend of N1.50 per share for the half-year ended June 30, 2026, despite a 19.1 per cent decline in profit after tax (PAT) to N430.76 billion from N532.18 billion recorded in the corresponding period of 2025. The proposed dividend is higher than the N1.25 per share paid for the first half of last year and will be presented to shareholders for ratification at the bank’s next Annual General Meeting. The bank’s interim financial results posted on the Nigerian Exchange Limited (NGX) showed that group gross earnings fell by 25 per cent to N1.90 trillion from N2.52 trillion in the first half of 2025. However, profit before tax rose by two per cent to N637.60 billion from N625.63 billion. The increase in profit before tax did not translate into higher earnings after tax, as tax expense more than doubled to N206.84 billion from N93.45 billion in the comparable period. Consequently, earnings per share declined to N10.48 from N12.95, reflecting the drop in profit attributable to the bank’s equity holders, which fell to N430.29 billion from N531.83 billion. Zenith Bank pushes value addition to boost non-oil exportsZenith Bank named Africa’s Best Bank, Nigeria’s Best Bank at 2026 Euromoney AwardsZenith Bank expands West Africa reach, launches Côte d’Ivoire subsidiary Despite the decline in earnings, the bank recorded growth in customer deposits, which rose to N26.35 trillion at the end of June 2026 from N24.33 trillion at the end of December 2025. The bank also continued its expansion within and outside Nigeria during the period. It established operations in Côte d’Ivoire, completed the acquisition of 100 per cent of Paramount Bank Kenya and opened six new branches in Nigeria. As of June 30, 2026, the group had 472 branches, compared with 456 at the end of 2025. Its point-of-sale terminals increased to 554,402 from 473,123, while the number of cards issued to customers rose to 31.47 million from 30.27 million. Tags:

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