Invest Data Consulting Ltd

•As Shareholders Approve N87.91bn Dividend Shareholders of Zenith Bank Plc, at the annual general meeting on Monday in Lagos unanimously approved a proposal by the directors for the distribution of N2.50 final dividend, representing a payout of N78.491bn. The board had at the end of half year paid 30 kobo interim dividend, bringing total payout for the year N2.80 or N87.91bn, from profit after tax of N193.424bn, for the year ended December 31, 2018, compared to N173.791bn in the prior full-year. Responding to questions from shareholders at the meeting, Peter Amangbo, its group chief executive, assured that the management of Zenith Bank will strive to continue driving down its cost of funds. This, he believes, will ultimately impact top and bottom-lines, as well as ensure juicier dividend payment for shareholders and better returns to investors through an anticipated growth in share price on the Nigerian Stock Exchange (NSE). He acknowledged the happiness expressed by Nornah A...

Photo Caption: Zhijie, Elumelu and Uzoka at the signing ceremony on February 27, 2018. Pan-African banking group, United Bank for Africa Plc and China Development Bank (CDB), the world’s largest development finance institution, on February 27, 2018 signed a letter of intent for $100m seven-year to finance the development of small and medium enterprises (SMEs) in Africa. The loan will enhance UBA’s capacity to provide access to finance to small and medium enterprises (SMEs) across the 19 African countries where UBA currently operates. Kennedy Uzoka, Group Managing Director and Chief Executive of UBA Plc expressed excitement at the partnership with CDB, “the Development Finance Institution of the Chinese Government, on this historic transaction, as we strongly believe that the facility will serve as a catalyst to the sustainable development of commerce and industry in Africa through provision of critical financial interventions to SMEs across our presence countries.” Uzoka sa...