American Savings Bank rated Overweight at Piper Sandler on lower execution risk, healthy dividend

Jim Ovia, the founder and former chairman of Zenith Bank, is set to receive approximately N8.7 billion in interim dividends for the first half of 2026, following a 20% increase from the previous year. Ovia, who holds a combined 5.80 billion shares in the bank, will receive N1.50 per share, up from N1.25 per share in the same period last year. The dividend payment is scheduled for October 30, 2026, subject to shareholder ratification at the next Annual General Meeting.

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