Zenith Bank records 11.34% profit growth in FY 2018

By Chioma Obinagwam

Zenith Bank Plc, on Tuesday presented its audited financial report for the year ended December 31, 2018, indicating 11.34 percent increase in its Profit After Tax (PAT)- the final, residual amount of profit generated by an organization.

The PAT for the period under review soared to N193.147 billion, up from the N173.472 billion it achieved in the corresponding year of 2017.

However, Gross Earnings declined from N745 billion in 2017 to N630 billion in 2018.

The bank’s Earnings Per Share (EPS), which is the monetary value of earnings per outstanding share of common stovk for a company.

closed better at N6.15, compared to the prior year’s N5.53, out of which the directors have proposed a dividend per share of N2.50, same as previous full-year, bringing total payout for the 2018 financial year to N2.80 per share, considering the 30 kobo interim dividend earlier paid.

While qualification date is March 8, 2019, payment date is March 19, whereas the bank’s 28th Annual General Meeting (AGM) will hold on the 18th of March, 2019.