Zenith Bank Plc (NGX: ZENITHBANK) has declared an interim dividend of ₦1.50 per share for the period ended 30th June 2026, payable on October 30, 2026, subject to appropriate withholding tax.
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 ₦1.50 per share (2025: Interim dividend of ₦1.25 per share) from the retained earnings accounts as at 30 June 2026.
The dividend is 20% higher than last year’s.
This will be presented for ratification by the shareholders at the next Annual General Meeting.
Payment of dividends is subject to withholding tax rate of 10% in the hands of qualified recipients. With 41.07 billion shares in issue, the payout implies about ₦61.6 billion.
On October 30, 2026, dividends will be paid electronically to shareholders whose names appear on the Register of Members as at October 23, 2026, and who have completed the e-dividend registration and mandated the Registrar to pay their dividends directly into their Bank accounts. GDR holders will be paid after this date.
The qualification date is October 23, 2026, and the Register of Shareholders will be closed on October 26, 2026. The company proposed no bonus.
Zenith Bank Plc reported gross earnings of ₦1.90 trillion (H1 2025: ₦2.52 trillion) for the first half of 2026.
Profit before tax rose 1.9% to ₦637.60 billion (H1 2025: ₦625.63 billion). Profit after tax fell 19% to ₦430.76 billion (H1 2025: ₦532.18 billion), with a basic and diluted earnings per share of ₦10.48 (H1 2025: ₦12.95).
Interest income declined 9% to ₦1.68 trillion, while interest expense fell 13% to ₦421.80 billion. Net interest income slipped 7% to ₦1.25 trillion.
The largest swing came from trading. The Group recorded a trading loss of ₦92.24 billion, against a gain of ₦467.79 billion a year earlier.
A sharp drop in loan-loss provisions kept pre-tax profit growing. Impairment charges on financial instruments fell about 81% to ₦141.12 billion from ₦762.05 billion.
Net fee and commission income rose nearly 40% to ₦178.77 billion, and other operating income rose to ₦71.63 billion from ₦17.29 billion.
Operating expenses rose about 10% to ₦451.33 billion, and personnel expenses rose 3% to ₦138.45 billion. Depreciation increased 29% to ₦35.42 billion.
From the statements, the cost-to-income ratio rose to about 45% from about 30%, as income fell while costs grew.
The tax charge rose to ₦206.84 billion from ₦93.45 billion, an effective rate of about 32% against 15% a year earlier. That is why profit after tax fell while profit before tax rose.
Total income fell 54% to ₦321.52 billion. Foreign currency translation losses of ₦92.80 billion on foreign operations weighed on it, and the 2025 figure included a ₦141.40 billion gain from adopting inflation accounting.
On a standalone basis, the Bank’s profit before tax was ₦460.20 billion (H1 2025: ₦464.00 billion).
Its profit after tax was ₦307.42 billion (H1 2025: ₦426.71 billion), with earnings per share of ₦7.49 (H1 2025: ₦10.39).
As at 30 June 2026, the financial services company held:
– Total assets: ₦32.65 trillion (31 Dec. 2025: ₦31.46 trillion)
– Customer deposits: ₦26.35 trillion (31 Dec. 2025: ₦24.33 trillion), up 8%
– Loans and advances. ₦12.05 trillion (31 Dec. 2025: ₦10.45 trillion), up 15%
-Borrowings: ₦11.13 billion (31 Dec. 2025: ₦651.16 billion)
– Shareholders’ funds: about ₦4.89 trillion
-Capital adequacy ratio: 25.1% for the Group and 24.9% for the Bank
During the period, the Group established operations in Côte d’Ivoire and completed its acquisition of Paramount Bank (Kenya) Limited.
The Bank also opened six new branches in Nigeria. At 30 June 2026 the Group had 472 branches, 87 cash centres, 2,145 ATM terminals, 554,402 POS terminals (31 Dec. 2025: 473,123) and 31.47 million cards issued.
Jim Ovia retired from the Board effective 29th April 2026, and Engr. Mustafa Bello was appointed Chairman the same day. Mr. Kennedy Onuwa Okwudili joined the Board as an Executive Director on 1st May 2026. Dame (Dr.) Adaora Umeoji remains Group Managing Director/CEO.
The Bank had 916,138 shareholders at period end, up from 824,951 at December 2025.
Zenith Bank’s shares have gained about 118% this year, from ₦61.80 at the start of 2026 to ₦134.70 on 9 October. At that price, the Bank’s market value is about ₦5.5 trillion.
About Zenith Bank Plc
Zenith Bank Plc was incorporated in Nigeria under the Companies and Allied Matters Act as a private limited liability company on May 30, 1990. It was granted a banking licence in June 1990, to carry on the business of commercial banking and commenced business on June 16, 1990.
The Bank is domiciled in Nigeria and was converted into a Public Limited Liability Company on May 20, 2004. The Bank’s shares were listed on October 21, 2004 on the Nigerian Stock Exchange. In August 2015, the Bank was admitted into the Premium Board of the Nigerian Stock Exchange.
The registered office address of the company is Plot 84/87 Ajose Adeogun Street, Victoria Island, Lagos.
The principal activity of the Bank is the provision of banking and other financial services to corporate and individual customers. Such services include granting of loans and advances, corporate finance and money market activities.
The Bank has eight subsidiary companies namely; Zenith Bank (Ghana) Limited, Zenith Bank (UK) Limited, Zenith Bank (Sierra Leone) Limited, Zenith Bank (The Gambia) Limited, Paramount Bank (Kenya) Limited, Zenith Bank (Côte d’Ivoire) Limited, Zenith Pensions Custodian Limited and Zenith Nominees Limited. The Bank also has a representative office in China in addition to operating a branch of Zenith Bank (UK) Limited in the United Arab Emirates and also in France.
Administrator and Writer
