Zenith Bank to pay shareholders N7.8bn interim dividend
…As share price surges 41% in half year 2017
By Kayode Ogunwale

SHAREHOLDERS of Zenith Bank Plc are to receive N7.849 billion interim dividend for the half year 2017.
The bank with an impressive half year 2017 result released to the Nigerian Stock Exchange (NSE) in Lagos declared interim of N0.25 kobo per share for its shareholders.
According to the result made available to Business Standard, gross earnings of the Group increased by N165.628 billion, represented 77.10 percent of N214.812 billion recorded in 2016 half year to end the 2017 half year with N380.440 billion.
The lender’s profit after tax grew from N35.467 billion it made during the year 2016 half year to N75.317 billion at the end of current half year, this translated to N39.850 billion or 112.36 percent over the prior year after tax profit.
Zenith Bank Group result also recorded massive increase of 112.39 percent in earnings per share, as it earned N2.40 kobo as against N1.13 kobo it earned in half year 2016.
However, total assets of the Group grew slightly from N4.739 trillion in December 2016 to N4.927 trillion at the end of half year 2017.
In the same vein, the total liabilities of the group rose by 4.29 percent, from N4.035 trillion to N4.208 trillion.
Loans and advances of the bank declined from N2.289 trillion granted to customers in 2016 to N2.187 trillion at the end of half year 2017. The decreased recorded represented 4.46 percent of what it loaned out in 2016.
Deposit’s from customers also dropped during the half year 2017, from N2.984 trillion in December 2016 to end current half year with N2.975 trillion.
Accordingly, the share price of Zenith Bank Plc during the half year recorded a tremendous improvement of N6.14 kobo per share, represented 41.63 percent.
The share price per unit opened January 1st with N14.75 kobo and rose to N20.89 kobo at the end of June 30, 2017 trading.