Jim Ovia to Receive ₦8.7bn in Zenith Bank Dividends

Jim Ovia, the founder and former chairman of Zenith Bank, is poised to earn around ₦8.70 billion in interim dividends for the first half of 2026, following a 20 percent increase in the bank's dividend per share. Zenith Bank has proposed an interim dividend of ₦1.50 per share, up from ₦1.25 for the same period in 2025.

Ovia holds a total of 5.80 billion shares in the bank through direct and indirect investments, making him one of the largest individual shareholders. His direct shareholding of 4,145,107,627 shares would yield approximately ₦6.22 billion in dividends, while his indirect holdings of 1,656,130,705 shares would generate an additional ₦2.48 billion.

The total gross dividend income before withholding tax is estimated at ₦8.70 billion. After a 10 percent withholding tax, his net entitlement would be approximately ₦7.83 billion.

The dividend payment is scheduled for October 30, 2026, for qualifying shareholders. Ovia retired from the bank's board on April 29, 2026, but retains a significant ownership interest.