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Jim Ovia Earns N1.52 Billion As Top Bank Chiefs Earn N2.3bn In Interim Dividend - Business - Nairaland

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Jim Ovia Earns N1.52 Billion As Top Bank Chiefs Earn N2.3bn In Interim Dividend by ijustdey: 11:34am On Sep 07
Top Nigerian bank executives will earn a total of N2.3 billion in interim dividend for the half year ended June 30, according to an analysis done by TheCable.

Despite the impact of the pandemic and regulatory squeeze which has seen the earnings of banks come under pressure, tier-1 banks in the country have continued to build a robust buffer since the last cyclical downturn.

This has put them in a better position to absorb asset quality shocks and sustain the age-long tradition of dividend payment to shareholders.


Leading the pack is Jim Ovia, chairman of Zenith Bank, who will earn N1.52 billion in interim dividend as the largest shareholder in Nigeria’s most profitable bank as at June 30.

This follows the final approval of interim dividend in N9.4 billion at N0.30 per share

Ovia holds total outstanding shares of 5.07 billion as at June 30 — 3.54 billion units directly and 1.52 billion units indirectly for institutional investors Ltd, Lurot Burca Ltd, Jovis Nigeria Ltd, Veritas Registrars Ltd, and Quantum Zenith Securities Ltd.


Herbert Wigwe, Access Bank’s CEO, will earn N379 million in interim dividend following the final approval of 25 kobo interim dividend to the shareholders of the bank whose names appear in the register of members as at close of business September 17, 2020.

Wigwe has total outstanding shares of 1.517 billion units with 201,231,713 held directly, while 1,316,619,015 are held indirectly.

A breakdown of the indirect holding shows United Alliance Company of Nig. Ltd has 537,734,218; Trust and Capital Limited 584,056,979; and Coronation Trustees Tengen Mauritius 194,827,818


The chairman United Bank for Africa (UBA) plc, Tony Elumelu, is also set to earn N391 million in interim dividend as the largest shareholder.

The interim dividend of N0.17 has been approved for every ordinary share of 50 kobo and the release of the bank’s 2020 half-year result for the period ended June 30.

Elumelu holds a total outstanding share of 2.30 billion (both direct and indirect) as at June 30 2020.

He has a total of 189.85 million units of shares in direct holding as at June 30, with 2.14 billion units of shares as indirect.

A further breakdown of his indirect holdings shows HH Capital Limited has 140.84 million units of shares; Heirs Holdings, where he is the chairman has 1.74 billion units of shares; Heirs Alliance Limited with 231.08 million units of shares.

“Subject to applicable withholding tax, the (interim dividend) will be paid to shareholders whose names appear in the register of members as at the close of business on Tuesday, September 15, 2020,” the bank said in a statement.


Segun Agbaje, managing director Guaranty Trust Bank (GTBank), will earn N12.48 million in interim dividend with the final approval of 30 kobo interim dividend to shareholders whose names appear in the register of members as at September 15.

Agbaje has total outstanding shares of 41.62 million units, with 32,146,651 held directly while 9,481,350 held indirectly.

Payment of interim divided is subject to the deduction of appropriate withholding tax.

THE CABLE

4 Likes

Re: Jim Ovia Earns N1.52 Billion As Top Bank Chiefs Earn N2.3bn In Interim Dividend by GudluckIBB(m): 11:42am On Sep 07
See money !

6 Likes

Re: Jim Ovia Earns N1.52 Billion As Top Bank Chiefs Earn N2.3bn In Interim Dividend by tomdon(m): 4:02pm On Sep 07
O boy. So much just because someone started a bank.
And that profit is from both the haves and the have nots.
Capitalism is bad oo
This life is not balanced but capitalism further creates even more imbalance.

35 Likes

Re: Jim Ovia Earns N1.52 Billion As Top Bank Chiefs Earn N2.3bn In Interim Dividend by ForeThinker: 4:02pm On Sep 07
Ignorance is death, Knowledge is life.

22 Likes 1 Share

Re: Jim Ovia Earns N1.52 Billion As Top Bank Chiefs Earn N2.3bn In Interim Dividend by jesus247alive: 4:02pm On Sep 07
Wow
Re: Jim Ovia Earns N1.52 Billion As Top Bank Chiefs Earn N2.3bn In Interim Dividend by cuntguy: 4:03pm On Sep 07
Maximum respect sir your book Africa rise and shine has really change my life.

10 Likes

Re: Jim Ovia Earns N1.52 Billion As Top Bank Chiefs Earn N2.3bn In Interim Dividend by Kusheer(m): 4:03pm On Sep 07
Thunder go fire poverty

7 Likes 3 Shares

Re: Jim Ovia Earns N1.52 Billion As Top Bank Chiefs Earn N2.3bn In Interim Dividend by thebosstrevor1: 4:03pm On Sep 07
Good for him.

What is 2.3 billion naira in dollars?

That is 5,947,916.84 dollars

This is small when compared to what south african banks give out to top shareholders

31 Likes 1 Share

Re: Jim Ovia Earns N1.52 Billion As Top Bank Chiefs Earn N2.3bn In Interim Dividend by emeijeh(m): 4:03pm On Sep 07
If only Sir Sina Peters had invested his N20m wisely in 1990

47 Likes 5 Shares

Re: Jim Ovia Earns N1.52 Billion As Top Bank Chiefs Earn N2.3bn In Interim Dividend by bigdammyj: 4:03pm On Sep 07
Noted
Re: Jim Ovia Earns N1.52 Billion As Top Bank Chiefs Earn N2.3bn In Interim Dividend by Openbusiness: 4:03pm On Sep 07
shocked
Re: Jim Ovia Earns N1.52 Billion As Top Bank Chiefs Earn N2.3bn In Interim Dividend by sojayy(m): 4:03pm On Sep 07
Ok
Re: Jim Ovia Earns N1.52 Billion As Top Bank Chiefs Earn N2.3bn In Interim Dividend by iampeterben(m): 4:04pm On Sep 07
Na my N1,800 every month for SMS charges dem take dey hit billions so. Its well!

33 Likes 3 Shares

Re: Jim Ovia Earns N1.52 Billion As Top Bank Chiefs Earn N2.3bn In Interim Dividend by Slawormir: 4:04pm On Sep 07
Damnnnnn niggarrr
Isoright
Re: Jim Ovia Earns N1.52 Billion As Top Bank Chiefs Earn N2.3bn In Interim Dividend by Ricky911(m): 4:04pm On Sep 07
Noted
Re: Jim Ovia Earns N1.52 Billion As Top Bank Chiefs Earn N2.3bn In Interim Dividend by lekki1444: 4:04pm On Sep 07
cheesy Jim put some of that money in my zenith akant
Re: Jim Ovia Earns N1.52 Billion As Top Bank Chiefs Earn N2.3bn In Interim Dividend by djlawex02(m): 4:04pm On Sep 07
don't forget me Lord

1 Like

Re: Jim Ovia Earns N1.52 Billion As Top Bank Chiefs Earn N2.3bn In Interim Dividend by Vyzz: 4:04pm On Sep 07
cool


Swimming in money...


If I get this kind money eh...


Na to just buy nairaland


Wait... Na just to buy shares and money will be flowing continuum?...

Abeg who wan sell shares
Re: Jim Ovia Earns N1.52 Billion As Top Bank Chiefs Earn N2.3bn In Interim Dividend by Madibah(m): 4:05pm On Sep 07
Okay
Re: Jim Ovia Earns N1.52 Billion As Top Bank Chiefs Earn N2.3bn In Interim Dividend by AFULA(m): 4:05pm On Sep 07
okay
Re: Jim Ovia Earns N1.52 Billion As Top Bank Chiefs Earn N2.3bn In Interim Dividend by themonk(m): 4:06pm On Sep 07
tomdon:
O boy. So just because someone started a bank. And that profit is from both the haves and the have nots.
Capitalism is bad oo
This life is not balanced but capitalism further creates even more imbalance.
Go and start a bank na, anybody can start a bank it takes a lot to keep it afloat talk less of keeping it on top.

21 Likes

Re: Jim Ovia Earns N1.52 Billion As Top Bank Chiefs Earn N2.3bn In Interim Dividend by ORBLIGHTS(m): 4:07pm On Sep 07
IF YOU THINK THIS IS GOOD, THEN IT IS GOOD BUT IF YOU THINK OTHERWISE, THEN IT IS.... IT'S WHAT YOU THINK.
Re: Jim Ovia Earns N1.52 Billion As Top Bank Chiefs Earn N2.3bn In Interim Dividend by shilefan2(m): 4:07pm On Sep 07
Oluwa bless my hustle o! See better money o...Chaiii....
Re: Jim Ovia Earns N1.52 Billion As Top Bank Chiefs Earn N2.3bn In Interim Dividend by SavageResponse(m): 4:07pm On Sep 07
This guy has banished poverty from his descendants for the next 50 years!

9 Likes

Re: Jim Ovia Earns N1.52 Billion As Top Bank Chiefs Earn N2.3bn In Interim Dividend by Kingpele(m): 4:08pm On Sep 07
;DHard work pays off at the end but them lazy youths will dream to make billions without any reasonable contribution to the economy or rather through Fraud or eating of shit for ritual purposes,
angry no amount of shit eating will make u a billionaire, if u like eat your community feaces, e no give u billions oooo hahaha

3 Likes

Re: Jim Ovia Earns N1.52 Billion As Top Bank Chiefs Earn N2.3bn In Interim Dividend by Dollarship(m): 4:08pm On Sep 07
Too much
Re: Jim Ovia Earns N1.52 Billion As Top Bank Chiefs Earn N2.3bn In Interim Dividend by wildcatter23(m): 4:09pm On Sep 07
angry
Re: Jim Ovia Earns N1.52 Billion As Top Bank Chiefs Earn N2.3bn In Interim Dividend by emmabest2000(m): 4:09pm On Sep 07
facsender1:
Wow

jesus247alive:
Wow

ambulance without car grin

7 Likes 2 Shares

Re: Jim Ovia Earns N1.52 Billion As Top Bank Chiefs Earn N2.3bn In Interim Dividend by Kekereekun123: 4:10pm On Sep 07
Yet wont pay entry level staff well

3 Likes 1 Share

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