Zenith Bank has a Dividend yield of 10.50 percent, nearly doubles industry average as it continues to record double digit growth in earnings amid a tough and volatile macroeconomic environment.
Zenith Bank, United Bank for Africa (UBA), Guaranty Trust Bank (UBA), Access Bank, are the most attractive dividend paying stocks in the banking industry.
This means they are giving investors a high minimum rate of returns for investing in their companies. moreso, ordinary shareholders are risk takers as they the last to be settled when a firm is bankrupt.
These dividend Aristocrats, recorded yields higher than the industry average of 5.56 percent, according to Markets and Intelligence calculation
UBA, GTBank, and Access have dividend yields of 7.94 percent, 6.74 percent, and 6.25 percent, outperforming the industry average.
On the flip side, Fidelity’s dividend Yield of 4.48 percent, First City Monument Bank (FCMB); 4.38, First Bank Holdings Nigeria (FBHN) Plc; 2.36 percent, and Stanbic IBTC Holdings Plc; 1.03 percent are below the bench mark.