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Zenith Bank announces interim dividend of N0.30k for every 50k share held by shareholders

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Zenith Bank plc has announced an interim dividend of N0.30k for every share of 50k held by shareholders of the group.

In a disclosure signed by Michael Osilama Otu, Company Secretary, this is subject to appropriate withholding tax which will be paid to those whose names appear on the registrar of members at the close of business on the 6th of September 2022.

It also stated that the register of shareholders will be closed on September 7th 2022 to enable the registrars to prepare for the payment of dividends.

The bank stated that by the 13th of September, it will begin paying electronically to shareholders whose names appear on the registrar of members of September 2022 and who have completed the e-dividend registration and mandated the registrar to pay their dividend directly into their bank account. GDR holders will be paid after this date.

It also said that shareholders with dividend warrants and share certificates that have remained unclaimed, or yet to be presented for payment or returned for validation to complete the e-dividend registration.

Zenith Bank Plc has posted a profit after tax of N111 billion for the first six months of 2022, a 5 per cent increase from the amount in the first half of 2021.

The company increased interest income by a whopping N18.5 per cent to close at N242 billion in the first half of the year.

The earnings per share was up from N3.38 in H1 2021 to N3.55 in H1 2022The company last traded at N22 while its market capitalization stood at N691 billion.

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MoneyMaster to promote mobile wallet at Ojude Oba

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Nigeria’s leading payment service bank, MoneyMaster Payment Service Bank Limited (MMPSB) will be at this year’s Ojude Oba Festival to be held in Ijebu Ode, Ogun State.

The Ojude Oba festival is an annual event that typically holds on the third day of the Eid-al-Kabir whereby different cultural age groups put up a spectacular parade to pay homage to the Royal Majesty, the Awujale of Ijebualand.

As a precursor to the Ojude Oba festival, Moneymaster, has embarked on a month-long market activation, engaging indigenes of Ijebuland to onboard them on to one of its digital banking platforms – mobile wallet. With the Moneymaster mobile wallet, customers can transfer, withdraw from an agent, buy airtime and pay utility bills.

During this month-long activation, customers in Ijebuland who open an account stand a chance of winning free airtime amongst other gift items.

According to a statement by the company, the move towards a cashless economy can become a reality when the bulk of Nigerians embrace mobile wallets so as to help them cultivate a more convenient savings habit and also enable them make payment with ease.

“While we rejoice with the people of Ijebuland at this time, we also want to showcase what we have in Moneymaster’s mobile wallet that can help various people to enjoy seamless banking from their phones,” the statement noted.

Moneymaster Payment Service bank is licensed by the Central Bank of Nigeria and insured by NDIC to promote financial inclusion in furtherance of the Nigerian financial literacy initiative driven by the Central Bank of Nigeria.

With Moneymaster, Nigerians can open mobile wallets, savings account, individual and business accounts to make payments, buy airtime, and pay utility bills to over 4,000 companies.

MoneyMaster was recently appointed a payment partner to the Ounje Eko initiative by the Lagos State government in its bid to provide discounted food items to residents of the state amidst rising cost of food items. Moneymaster is positioned to support individuals and businesses in their journeys towards financial prosperity by offering bespoke financial services that meet their aspirations.

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Money market

Union Bank Nigeria urges global habitat restoration on World Environment Day

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Union Bank Nigeria Limited has stressed the importance of preserving and restoring the global environment through sustainable practices.

This message was conveyed during an event co-hosted with the Nigerian Conservation Foundation in observance of World Environment Day.

A key highlight of the event was a tree-planting exercise involving participants and stakeholders representatives. This activity aligned with this year’s theme, “Land Restoration, Desertification, and Drought Resilience,” emphasising the need to rejuvenate and restore areas affected by deforestation, erosion, and desertification, both globally and in Nigeria.

During the program, the Head of Citizenship and Sustainability at Union Bank, Patricia Iwhewhe, highlighted the need to protect our environment.

In her words: “Land degradation and erosion are not things stakeholders and policymakers can afford to ignore or gloss over. We all must get involved in helping restore and reclaim parts of our environment badly impacted by deforestation and desertification. Union Bank, as a sustainability champion committed to the preservation of our dear planet, appreciates and recognises the responsibility we have as humanity to look after our environment. We will continue to support and participate in programs dedicated to protecting and enriching our precious habitat.”

The event gathered diverse stakeholders, including environmental rights activists, international partners agencies, corporate bodies, government agencies, and students from selected secondary schools, to discuss and engage in World Environment Day activities.

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Naira depreciates by 0.17% against dollar at official market

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The Naira on Thursday slightly depreciated at the official market trading at N1,476.24 to the dollar.

Data from the official trading platform of the FMDQ Exchange, revealed that the Naira lost N2.58.

This represents a 0.17 percent loss when compared to the previous trading date on Tuesday when it traded at N1,473.66 to the dollar.

Also, the volume of currency traded reduced to $92.68 million on Thursday down from $385.91 million recorded on Tuesday.

Meanwhile, at the Investor’s and Exporter’s (I&E) window, the Naira traded between 1,500 and N1,400 against the dollar.

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