Chairman of Zenith Bank, Jim Ovia, is set to receive an estimated N50.7 billion following the bank’s announcement of its final dividend for the 2025 financial year.
The lender declared a final dividend of N8.75 per share, positioning Ovia as the single largest beneficiary due to his substantial equity stake. His total holdings stand at approximately 5.8 billion shares, comprising 4.15 billion held directly and 1.66 billion held indirectly.
Despite an increase in his total shares from 5.08 billion recorded in 2024, Ovia’s percentage stake in the bank declined from 16.19 percent to 14.13 percent, reflecting broader changes in the bank’s share structure.
When combined with the previously declared interim dividend of N1.25 per share, his total dividend earnings for the year rise significantly above the N50.7 billion projected from the final payout alone.
Other top executives of the bank are also set to benefit from the dividend distribution. Group Managing Director, Adaora Umeoji, increased her shareholding to 287 million shares and is expected to earn about N2.5 billion from the final dividend.
Several directors will receive payouts based on their respective holdings:
Henry Oroh – N275 million (31.43 million shares)
Adobi Nwapa – N263.8 million (30.16 million shares)
Akindele Ogunranti – N245.9 million (28.1 million shares)
Lawani Adamu – N116.4 million (13.3 million shares)
Louis Odom – N113.6 million (12.98 million shares)
Among non-executive directors, dividend earnings are relatively modest. Chuks Emma Okoh is set to receive N5.4 million, while Juliet Ehimuan and Pamela Mimi Yough will earn N1.1 million and N1.4 million respectively, based on their smaller shareholdings.
Independent non-executive directors without equity stakes in the bank, including Mustafa Bello, Al-Mujtaba Abubakar, Omobola Ogunfowora, Peter Bamkole, and Rislana Abdulazeez, will not receive any dividend payouts.
Overall, Zenith Bank plans to distribute a total of N359 billion as final dividends, bringing total dividends for the 2025 financial year to approximately N410.7 billion, subject to shareholder approval at the upcoming Annual General Meeting (AGM).
The bank’s financial performance remained strong, with net profit rising slightly to N1.04 trillion from N1.03 trillion recorded in 2024. Gross earnings increased to N4.19 trillion, while total assets climbed to N29.96 trillion. Customer deposits stood at N22.68 trillion, and total equity rose to N3.67 trillion.
Shareholders are expected to deliberate on and approve the final dividend at the AGM before payments are made.