Zenith Bank Plc has recorded a 98% jump in after-tax profit to N577.8 billion in the first six months of 2024.
Gross earnings for the period ended 30 June 2024 came in at N2.1 trillion, up 117% from N967 billion as at June 2023.
The Board of Directors, pursuant to the powers vested in it by the provisions of section 426 of the Companies and Allied Matters Act (CAMA 2020) of Nigeria, proposed an interim dividend of N1 per share, double the interim dividend of N0.50 per share paid in 2023, from the retained earnings accounts as at 30 June 2024.
To strengthen its capital reserve against macroeconomic shocks and bolster investors’ confidence, the number one Nigerian lender is set to raise N290 billion through a combination of a Rights Issue and a Public Offer in compliance with the revised minimum capital requirements for Nigerian commercial banks introduced by the Central Bank of Nigeria (CBN).
The Rights Issue offers 5,232,748,964 ordinary shares of 50 Kobo each at N36.00 per share, while the Offer for Subscription presents 2,767,251,036 ordinary shares of 50 Kobo each at N36.50 per share.
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