Zenith Bank Plc will reward its founder and chairman, Jim Ovia, with an interim dividend payout of roughly N5.18 billion for the first half of 2025, following the group’s solid financial performance.
Ovia holds 4.14 billion shares directly, which qualifies him for N1.25 per share—an increase of 25% compared to the N1.00 interim dividend declared in the same period last year. This figure does not include his indirect stake of 1.65 billion shares. If those are factored in, his total payout rises by another N2.06 billion.
For H1 2025, Zenith Bank reported a profit before tax of N625.63 billion, down 13.95% from the N727 billion it made in the first half of 2024. Gross earnings, however, climbed 20% year-on-year to N2.5 trillion. This growth was supported by a 60% leap in interest income, which hit N1.8 trillion, reflecting the bank’s deliberate repricing of assets and prudent treasury management.
Net interest income nearly doubled to N1.4 trillion, while non-interest income contributed N613 billion. Profit after tax settled at N532 billion, translating into earnings per share of N12.95. The balance sheet stayed strong with total assets at N31 trillion, deposits at N23 trillion, and a capital adequacy ratio of 26%—well above regulatory requirements. The non-performing loan ratio also improved to 3.1%, while liquidity stood at 69%.
The interim dividend once again underscores Zenith Bank’s reputation for rewarding shareholders, especially as the bank marks its 35th year of operations in 2025.
Ovia has long ranked among Nigeria’s most rewarded investors. For the 2024 financial year alone, he was entitled to N25.4 billion in dividends after Zenith recorded a profit after tax of N1.03 trillion—its highest ever, representing a 52.5% jump from 2023. That payout included a N4.00 final dividend and a N1.00 interim dividend, totaling N5.00 per share.
Earlier years also brought in huge sums for him. In 2022, Ovia earned N16.24 billion when the bank declared N3.20 per share in total dividend, while in 2023, his payout reached N11.35 billion under a structure of 30 kobo interim and N2.90 final dividends.
Since founding Zenith Bank in 1990, Ovia has remained central to its growth. After serving as CEO until 2010, he transitioned into his current role as chairman, where he continues to influence its strategy. Outside banking, he maintains interests in real estate, telecoms, and technology, alongside his philanthropic ventures.