Zenith Bank Pays Jim Ovia 12.7 Million In Dividends

Jim Ovia received 12.7 million in dividends from Zenith Bank, a 14.29 increase, reflecting the banks strong 2024 earnings and shareholder-friendly policies.

Zenith Bank posted a record N1.032 trillion 670.7 million profit, driven by sharp increases in interest income, trading gains, and fee and commission revenues.

Total assets soared to N29.96 trillion 19.5 billion, while equity rose 73.7 to N4.03 trillion 2.62 billion, cementing Zeniths position as Nigerias top financial group.

Nigerian banker Jim Ovia, the founder and chairman of Zenith Bank, has pocketed a dividend of N20.33 billion 12.69 million from his stake in the countrys most profitable financial institution. This is a 14.29 percent jump from last years payout, a clear sign of the banks strong performance in 2024 and its steady commitment to rewarding shareholders.

Ovia, who established Zenith Bank back in 1990 and has since played a key role in steering its growth, owns a 16.2 percent stakeequal to 5,082,800,739 ordinary shares. His latest dividend boost follows shareholder approval at the banks 34th Annual General Meeting, held on Tuesday, April 29, 2025, in Lagos.

At the meeting, shareholders approved a final dividend of N4.00 0.0025 per share, pushing the total dividend for the 2024 financial year to N5.00 0.0032 per share. Altogether, Zenith Bank paid out N195.67 billion 122.1 million to shareholders, up from N171.2 billion the previous year.

This windfall for Ovia and other investors comes after Zenith Bank posted a record profit of N1.032 trillion 670.7 million in 2024a 52.5 percent jump from the N676.9 billion 440 million it reported in 2023. Strong gains across all major income lines fueled the surge.

Interest income more than doubled, rising 138.6 percent from N1.14 trillion 741.5 million to N2.72 trillion 1.77 billion. Fee and commission income shot up 89.3 percent to N206.9 billion 134.5 million, while trading income nearly doubled as well, climbing 94 percent to N1.1 trillion 716 million.