Business These billionaires are set to cash out as banks...

These billionaires are set to cash out as banks pay interim 2019 dividends 


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These billionaires are set to cash out as banks pay interim 2019 dividends 







If there is one thing that equity investors love to hear the most, it is the word “dividend”. For them, dividend connotes the fruit of their labour and payment for their investments. The most interesting thing about dividends is that the more the number of the shares you own, the more money you’re guaranteed of receiving every time dividends are declared. Some top shareholders in some of Nigeria’s leading banks will soon cash out as H1 interim dividends are set to be paid. 

Hence, Nairametrics brings you a complete list of how much some executives in Zenith Bank Plc, Access Bank Plc, United Bank for Africa Plc, and Guaranty Trust Bank Plc will earn from dividends.

Herbert Wigwe’s projected dividend in H1 2019 

The Group Managing Director and Chief Executive Officer of Access Bank Plc has 201, 231, 713 units of direct shares and 1, 240, 291,197 indirect shares in the bank. These translate to 1, 441, 522, 910 total units of shares. 

Last week, the bank announced that come October 3rd2019, it would pay an interim dividend of N0.25 per every share of 50 kobo. Now, when the total units of shares held by the CEO are multiplied by N0.25, we get approximately N360.3 million. That is the amount he is set to receive. 

Access Bank’s Chairman, Mosun Belo-Olusoga 

Mosun Belo-Olusola, who currently serves as the Chairman of Africa’s largest bank by customer size, has a total of 3, 604, 838 units of shares. These multiplied by N0.25 gives N901, 209.5. 

Here’s how much Jim Ovia will pocket 

On Wednesday, September 4th 2019, Zenith Bank Plc paid an interim dividend of 30 kobo per 50 kobo ordinary share to its shareholders. We calculated to see how richer this made the company’s founder and current Chairman – Jim Ovia.  

As we reported earlier, the billionaire has total units of 5, 059, 336,405 direct and indirect shareholdings in Zenith Bank Plc. This breaks down to 3, 546, 199, 395 units of direct shares and 1, 513, 137, 010 units of indirect shares. When multiplied by N0.30, you’d realise that Jim Ovia earned as much as N1.5 billion dividend for the period ended June 30th 2019. 

Zenith Bank’s Ebenezer Onyeagwu 

Much like his boss, the current Chief Executive Officer of Zenith Bank, Mr Ebenezer Onyeagwu, also cashed out a considerable amount following the interim dividend payout. According to the information contained in the company’s financial statement, Onyeagwu has a total direct shareholding of 36, 000.000. This, multiplied by N0.30, translated to N10.8 million. 

GTBank’s Segun Agbaje 

Guaranty Trust Bank Plc’s Chief Executive Officer, Segun Agbaje holds a total of 41, 628, 001 units of direct and indirect shares. When multiplied by the interim dividend of 30 kobo per ordinary share of 50 which the company is set to pay on September 11th, we see that the CEO is set to receive N12.48m approximately by tomorrow September 11th 

UBA’s Chairman, Tony Elumelu 

Nigerian billionaire and Chairman of United Bank for Africa, Tony Elumelu, holds some 189, 851, 584 units of direct shares and 2, 045, 354, 576 units of indirect shares. This gives a total 2, 235, 206, 160 shares which then translate to N447 million when multiplied by the interim dividend of N0.20 the company is set to pay. 

Once again, these dividends are a lot because we are talking about big money investors.

That notwithstanding, let this inspire you to start investing today. 


These billionaires are set to cash out as banks pay interim 2019 dividends 
Parrot Nigeria
An online news aggregator


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