Nigerian oil billionaire Mohammed Indimi is set to receive a dividend of about N1.44 billion ($1.05 million) after shareholders of Jaiz Bank approved a higher cash payout following another year of strong earnings growth.
The dividend, approved at the bank’s 14th Annual General Meeting on Wednesday, represents more than 29% of the lender’s total dividend distribution of N4.91 billion ($3.57 million) for the 2025 financial year.
Jaiz Bank declared a final dividend of 11 kobo per share, up 57% from the 7 kobo paid a year earlier, extending its track record of rewarding shareholders as profits continue to grow.
As the bank’s largest shareholder, Indimi owns 29.36% of Jaiz Bank, equivalent to about 13.09 billion shares, making him the biggest beneficiary of the dividend increase.
Strong earnings drive higher shareholder returns
