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Business News

Zenith Bank Plc pays final dividend of N2.50 to shareholders

Zenith Bank Plc announced yesterday that it would pay a final dividend of N2.50 for every 50 kobo shares.

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Zenith Bank GMD and CEO Mr. Ebenezer Onyeagwu, Zenith Bank: No major threat to earnings in the near term; Buy recommendation maintained

Zenith Bank Plc announced yesterday that it would pay a final dividend of N2.50 for every 50 kobo shares, thereby bringing the total dividend paid for FY 2019 to N2.80.

In a public disclosure that was issued to the Nigerian Stock Exchange right after releasing its audited FY 2019 result, Zenith Bank informed its shareholders that the dividend would be subject to appropriate withholding tax.

Zenith Bank GMD Ebenezer Onyeagwu, Central Bank of Nigeria, CBN's loan-to-deposit ratio policy, Nigerian Stock Exchange NSE stocks, Banks in Nigeria, Deposit Money Banks in Nigeria

Group Managing Director of Zenith Bank, Ebenezer Onyeagwu (Credit: The Nation)

Note that only shareholders whose names appear on the register of members latest by March 9th, 2020, should expect to receive payment. The register of members will become closed starting from March 10th.

Also, only shareholders, who have completed their e-dividend registration, will be eligible to receive their dividend payment. As always, shareholders must ensure to mandate the Registrar to pay their dividends into their bank accounts.

[READ MORE: United Capital Plc announces dividend payment for the financial year ended December 2019)

Zenith Bank shareholders, who have met all the necessary requirements, should expect to have their dividend paid to them electronically on the 16th of March. For GDR holders, their money will be transferred to their bank accounts on the 23rd of March.

The tier-1 has, therefore, advised shareholders, who have not completed their e-dividend registration, to do so immediately in order to receive their dividend payment as at when due.

Deal book 300 x 250

In the meantime, Zenith Bank reported a good performance for FY 2019. Nairametrics reported earlier that the bank’s gross revenue grew by 5.06% to N662.3 billion in FY 2019, up from N630.3 billion during the comparable period in 2018.

Profit before tax for the period stood at N243.3 billion, indicating a 5.0% increase when compared to N231.7 billion that was recorded in FY 2018.

Profit for the year increased by 7.9% to N208.8 billion, up from N193.4 billion in 2018.

Some observers have reacted to the result, including Igho Alonge. The former Fixed Income Portfolio Manager, who is popular on Twitter as a financial adviser, tweeted:

 

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Emmanuel is a professional writer and business journalist, with interests covering Banking & Finance, Mergers and Acquisitions, Corporate Profiles, Brand Communication, Fintech, and MSMEs.He initially joined Nairametrics as an all-round Business Analyst, but later began focusing on and covering the financial services sector. He has also held various leadership roles, including Senior Editor, QAQC Lead, and Deputy Managing Editor.Emmanuel holds an M.Sc in International Relations from the University of Ibadan, graduating with Distinction. He also graduated with a Second Class Honours (Upper Division) from the Department of Philosophy & Logic, University of Ibadan.If you have a scoop for him, you may contact him via his email- [email protected] You may also contact him through various social media platforms, preferably LinkedIn and Twitter.

1 Comment

1 Comment

  1. Anonymous

    March 4, 2020 at 9:39 am

    This is wonderful

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Cryptocurrency

PayPal is buying a Crypto security startup for less than $200 million

PayPal is set to outrightly purchase a crypto-security firm, Curv as part of its campaign in building its crypto ecosystem.

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Paypal

PayPal is set to outrightly purchase a crypto-security firm Curv as part of its campaign in building its crypto ecosystem, the company disclosed today.

According to a report credited to CNBC, the deal is estimated to be worth less than $200 million, it’s expected to close before June this year.

The company’s stock price however recorded some selling pressures at the time of writing amid rising U.S Treasury yields and greenback keeping global investors on their toes.

READ: CBN and cryptocurrency ban

The crypto startup about to be acquired by PayPal provides companies with Crypto security technology via the cloud. PayPal revealed that the purchase would help its expansion on supporting crypto.

“The acquisition of Curv is part of our effort to invest in the talent and technology to realize our vision for a more inclusive financial system,” PayPal’s Jose Fernandez da Ponte said in a statement.

In a press statement seen by Nairametrics, Dan Schulman, president, and CEO, PayPal, gave key insights on why the global payment company was going crypto; The shift to digital forms of currencies is inevitable, bringing with it clear advantages in terms of; financial inclusion and access, efficiency, speed, the resilience of the payments system and the ability for governments to disburse funds to citizens quickly.

READ: U.S customers can now buy Cryptos with Paypal

“Our global reach, digital payments expertise, two-sided network, and rigorous security and compliance controls provide us with the opportunity, and the responsibility, to help facilitate the understanding, redemption, and inter-operability of these new instruments of exchange,” he said.

Furthermore, he said, “We are eager to work with central banks and regulators around the world to offer our support and to meaningfully contribute to shaping the role that digital currencies will play in the future of global finance and commerce.”

This offering was made possible through a partnership with Paxos Trust Company, a regulated provider of crypto services and products.

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Corporate Press Releases

Transcorp Hotels launches Aura, an online marketplace for accommodation and experiences

Nigeria’s largest hospitality brand launches a new platform for booking vacation homes, holiday lets, and experiences.

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Dupe Olusola

Africa’s leading hospitality brand Transcorp Hotels Plc. has announced the launch of Aura, a new digital platform through which people can book accommodation, restaurants, and experiences.

The new brand, Transcorp’s first in the alternative accommodation segment, is part of the company’s asset-light model, leveraging technology to deliver true hospitality, exciting experiences, and drive shareholder value.

“It’s a new dawn in the hospitality industry! I am thrilled to introduce you to Aura by Transcorp, the digital platform we are using to connect people to quality accommodation, great food, and awesome experiences,” Managing Director and Chief Executive Officer of Transcorp Hotels Plc., Dupe Olusola said.

“For more than 30 years, Transcorp Hotels Plc has been at the forefront of creating a superior guest experience at our locations. Today, our commitment to innovation has offered us an opportunity to extend this beyond the hotel premises,” Olusola added.

The launch of Aura by Transcorp is one of the most significant developments in the company’s history as it seeks to transform the travel and tourism industry in Africa by focusing on three important components of travel, whether for leisure or business — where you stay, what you eat and how you spend your time. With its people-driven hospitality model, Aura is set to revolutionise travel and help remind Africans of our deep history of hospitality.

Speaking on the launch of Aura, Obong Idiong, Chief Executive Officer at Africa Prudential Plc, Aura’s technology partners, expressed his excitement. “Finding the right accommodation when you travel can be incredibly complex. Options available for the right prices are often limited, and travellers sometimes end up with accommodation that taints the travel experience. Transcorp Hotels Plc has been able to fix that with Aura and we are proud to be associated with them.”

“To ensure topnotch user experience, we built a solution to drive digital transformation through the adoption of shared living spaces for the Aura business. With an advanced search algorithm powered by artificial intelligence, Aura determines the relevance of locations taking into consideration, the customers’ preferences and requirements to meet them at the point of their needs,” Idiong added.

Priscilla Adeboye, a travel enthusiast and early adopter of Aura, said the global pandemic has pushed international travel down her list. “But I still want to be able to take some time off work or spend a weekend away from home with the family. I have found incredible homes on Aura that meet my need for space and privacy.”

Working with thousands of partners across Nigeria and different cities in Africa, Transcorp Hotels Plc. is building the continent’s largest platform for people-driven hospitality. While travellers enjoy the right selections at the best prices on Aura, hosts can also earn a lot of money by receiving guests in their unoccupied homes and sharing the local culture with them.

For travellers who would rather stay in hotels, Aura also has a great selection of some of the best hotels in every city.

With the launch of Aura, Transcorp Hotels Plc. has further cemented its leadership in the hospitality industry and reinforced its commitment to innovation and superior guest experience across different demographics.

Guests and hosts can sign up at aura.transcorphotels.com to start booking or hosting. The service is currently available in Nigeria only, but the company said plans are already in place to expand to major cities in Africa.

 

Transcorp Hotels Plc is one of Africa’s leading hospitality companies, committed to redefining service standards across the continent while remaining truly and authentically African.

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www.transcorphotels.com

Aura by Transcorp

Aura is Africa’s best platform for connecting travellers with great accommodation, good food, and memorable experiences. The platform is also an avenue for people with unoccupied homes, hotels, restaurants, or different skill sets that may interest others can earn an income by becoming hosts.

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