Shareholders of Zenith Bank Plc will be paid an interim dividend for the first half of 2020, a notice from the financial institution has hinted.
However, the amount to be paid by the lender to investors of the company has not been disclosed and the payment is subject to the approval of the Central Bank of Nigeria (CBN).
On Thursday, the board of Zenith Bank held a meeting to consider the financial statements of the organisation for the period ended June 30, 2020.
During the meeting, which also had the issue of payment of an interim dividend on the agenda of the board members, the results were approved and forwarded to the CBN.
The central bank will have to scrutinise the financial status of the bank and give a decision on the cash reward being proposed by the company.
If the apex bank is satisfied, it will authorise Zenith Bank to go ahead with the payment and allow the lender to release the results to the investing public.
“Please refer to our announcement dated July 3, 2020, through which we notified the Nigerian Stock Exchange (NSE) and the investing public of the board meeting of Zenith Bank.
“Please be informed that the board of directors of Zenith Bank at its meeting of Thursday, July 23, 2020, considered and approved the 2020 half-year audited results of the group and the payment of an interim dividend, subject to the approval of the CBN.
“The NSE and the investing public would be notified upon receipt of the approval of the CBN of the 2020 half-year audited accounts and financial statements,” the disclosure from the bank said yesterday.
Fabenmedia reports that last year, Zenith Bank paid its shareholders an interim dividend of 30 kobo per share. The amount is not expected to increase this year, but may likely reduce because of the effect of COVID-19 on the economy in most part of the second quarter of 2020.
However, shareholders are optimistic that the Zenith Bank interim dividend of 30 kobo will be maintained this year