Zenith Bank posts N230.57bn profit in 2020, declares N2.70 dividend to shareholders

Zenith Bank on Tuesday published its audited report for the year ended 31, December 2020. The financial giant declared a final dividend of N2.70 per share to its shareholders, which in addition to the 30 kobo per share as interim dividend amounts to N3.00 per share.

The financial giant reported Gross Earnings of N696.45 billion, up by 5.16% from N662.25 billion reported in 2019.

Profit after tax grew by 10.40% to N230.565 billion from N208.843 billion post tax profit reported in 2019.

Earnings per share (EPS) increased by 10.40% year on year to N7.34 from the EPS of N6.65.

At the referenced share price of N24.8, the P.E ratio of Zenith Bank stands at 3.38x with earnings yield of 29.61%.

Qualification date for the dividend is March 8, 2021 and closure of register is March 9, 2021.

Payment date for the dividend is on March 16, 2021 which will be done electronically.  

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