Zenith bank’s gross earnings have grown by 46.7 per cent from N508 billion in 2016 to N745.19 billion in 2017.
The bank’s audited report and accounts for the year ended December 31, 2017 showed that Profit Before Tax (PBT) increased from N156.75 billion to N203.46 billion while After taxes, net profit rose by 37 per cent to N177.93 billion in 2017, compared to N129.65 billion recorded in 2016.
The report also showed that earnings per share improved from N4.12 in 2016 to N5.66 in 2017.
Meanwhile, the bank’s board of directors announced that the bank will be distributing N84.8 billion to shareholders as cash dividend for the 2017 business year. This represents 33.7 per cent increase, compared with N63.42 billion paid for the 2016 business year.
The dividend recommendation submitted to the Nigerian Stock Exchange (NSE) shows that shareholders will receive a final dividend per share of N2.45, in addition to an interim dividend of 25 kobo, bringing total dividend per share to N2.70.
Recall that Zenith bank had distributed N63.42 billion, representing a dividend per share of N2.02 to shareholders for the 2016 business year.