Denis Olisa, Executive Director at Zenith Bank Plc (NSE – ZENITHBANK) has raised his stake in the bank via the acquisition of additional 2,000,000 ordinary shares of the company.
This was disclosed in a filing with the Nigerian Stock Exchange (NSE) on Monday. Olisa acquired an aggregate volume of 2,000,000 units of Zenith Bank Plc shares in two separate transactions at an average price of N26.79 per share.
The transaction which took place at the Nigerian Stock Exchange, Lagos Nigeria on February 24, 2021, amounted to N53.58 million.
At the close of trading on Monday, the share price of Zenith Bank Plc rose by 1.38% to N25.80 per share. YtD the share price is up by 4.03%.
As at 31 December 2020, Dennis Olisa held 10,122,316 (7,827,027 in 2019) units of the Bank shares in a direct holding.
If his position is held unchanged, this latest acquisition will increase his holdings to 12,122,316 units.
The Board of Directors of the Bank proposed a final dividend of N2.70 per 50kobo ordinary subject to shareholders approval and appropriate withholding tax. This is 20kobo higher than the N2.50 final dividend paid for 2019.
The qualification date is 8 March 2021, and the Payment date is 16 March 2021. The company registrar is Veritas Registrar.
Zenith Bank Plc had in September 2020 paid an interim dividend of N0.30
Zenith Bank Plc reported increases in both gross earnings and profit after tax, for the period ended 31 December 2020 released by the company.
Zenith Bank group grew its gross earnings by 5.2% to N696.45 billion in 2020 from N662.25 billion in 2019.
With his current holdings, Olisa is expected to receive N32.73 million as a dividend, subject to withholding tax.
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.