Zenith Bank to pay Jim Ovia N5.18 billion as dividend

Zenith Bank Plc is set to pay its founder and chairman, Jim Ovia, about N5.18 billion in interim dividend for the first half of 2025, following the lender’s strong financial performance.

Ovia directly holds 4.14 billion shares in the bank, entitling him to the interim dividend of N1.25 per share, a 25% increase from the N1.00 per share paid in the same period last year.

This figure excludes his indirect shareholding of 1.65 billion units, which, if added, would further raise his total dividend entitlement by N2.06 billion.

The bank’s performance  

Zenith Bank posted a profit before tax (PBT) of N625.63 billion for the half-year ended June 30, 2025, 13.95% lower than the N727 billion recorded within the same period in 2024.

Gross earnings rose 20% year-on-year to N2.5 trillion, driven largely by a 60% surge in interest income to N1.8 trillion, reflecting the bank’s strategic repricing of risk assets and effective treasury management. Net interest income nearly doubled, rising 90% to N1.4 trillion, while non-interest income contributed N613 billion.

Profit after tax stood at N532 billion, translating to earnings per share (EPS) of N12.95. The bank’s balance sheet remained resilient, with total assets at N31 trillion, customer deposits climbing to N23 trillion, and a capital adequacy ratio of 26% well above regulatory thresholds. Asset quality also improved, with the non-performing loan (NPL) ratio dropping to 3.1% and the liquidity ratio at 69%.

The interim payout highlights Zenith Bank’s consistency in rewarding shareholders as it celebrates its 35th anniversary in 2025.

Backstory 

Jim Ovia, the chairman and founder of Zenith Bank, has built a reputation as one of Nigeria’s most rewarded shareholders. For the 2024 financial year, he was set to earn N25.4 billion in dividends, following the bank’s record-breaking profit after tax of N1.03 trillion, a 52.5% jump from 2023.

The payout, scheduled, would comprise a N4.00 final dividend and a N1.00 interim dividend, bringing the total dividend to N5.00 per share.

This holding has consistently translated into multi-billion-naira earnings. In 2022, he was among the billionaires who got a share of $506 billion in dividends.

Ovia pocketed N16.24 billion after Zenith declared a total dividend of N3.20 per share, while in 2023, he received N11.35 billion from the same payout structure of a 30 kobo interim and N2.90 final dividend.

Ovia founded Zenith Bank in 1990 and served as the bank’s CEO until 2010, when he transitioned to chairman, a role in which he continues to shape its strategic direction. Beyond banking, he is a prominent philanthropist, entrepreneur, and investor, with interests spanning real estate, telecommunications, and technology.(Nairametrics)