United Capital proposes N3bn dividend payout amid subdued group earnings

For the year ended December 31, 2019, United Capital Plc proposes 50kobo dividend per share payable to its shareholders. The proposed dividend amounting to N3billion is contained the company’s audited financial statement released on the Nigerian Stock Exchange (NSE) on Tuesday February 18.

The group reported N8.59billion gross earnings in FY 2019 as against N9.29billion in 2018, representing 7.53percent decline. Its pre-tax profit of N4.9billion in 2019 was down by 21.22percent from N6.22billion in 2018 financial year. The Group’s profit after tax (PAT) printed slightly higher by 14.78percent to N4.97billion in 2019 against N4.33billion in 2018.

The group’s earnings per share increased to 83kobo, as against 72kobo in 2018. At the NSE on Tuesday, the shares of United Capital joined the top gainers league after rising from N2.88 to N2.93, adding 5kobo or 1.74percent.

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By Iheanyi Nwachukwu • February 18, 2020

Iheanyi Nwachukwu

Iheanyi Nwachukwu, is a creative content writer with almost two decades journalism experience writing on banking, finance, capital markets, and tax. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos. Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA). Other trainings Iheanyi attended include: Economic/Political Risk Analysis (By Thomson Reuters Foundation); International Financial Journalism (IFJ) (By PMA Media Training, UK); Effective Business Writing Skills (By Phillips Consulting); Reporting on Corporate Governance (By International Finance Corporation (IFC) & Thomson Reuters Foundation UK); etc. In addition, he has participated in high-level economy & markets events in Dubai, South Africa, Morocco, and other African countries like Zambia, Ghana and Gambia.