The stock market sustained its positive performance for the second day as the Nigerian Stock Exchange All-Share Index rose 0.14 per cent to close at 40,221.30, while market capitalisation added N29.5 billion to close at N21.043 trillion.
Leading financial institution, Zenith Bank Plc on Tuesday announced a final dividend of N2.70 per share after reporting an improved audited results. Details of the results showed that Zenith Bank posted net interest income of N299.682 billion, up from N267.031 billion in 2019, while net fee and commission income stood at N79.332 billion as against N100.106 billion in 2019. Impairment charges rose from N24.032 billion to N39.534 billion.
Based on the performance the board announced a final dividend of N2.70 per share, to bring the total dividend to N3.00 having paid an interim dividend before now. “However, the bank was resilient during the period, with this positive performance ultimately propelled by the strong balance sheet management and much-reduced tax expense,” they said.