United Bank for Africa Plc (UBA) will pay an interim dividend of 17kobo for every ordinary share of 50 kobo each, subject to applicable withholding tax.
UBA has 34,199,421,368 outstanding shares each priced at N6.55 as at the close of trading on Tuesday. With a market capitalisation in excess of N224billion, UBA shares have been on demand lately as investors on the Nigerian Bourse position for the interim dividend payment.
Tony Elumelu, Chairman of UBA Plc who is the largest shareholder in the bank will get the highest chunk of the interim dividend payment. His direct equity holding in UBA is 189,851,584 units while indirectly he owns 2,114,110,884 units of UBA shares. His indirect interest is through HH Capital Limited (140,843,816 units), Heirs Holdings Limited (1,742,180,600 units), and Heirs Alliance Limited (231,086,468 units).
UBA’s interim consolidated and separate financial statements for the period ended June 30, 2020, released to investors on the Nigerian Stock Exchange shows the Group’s H1 pre-tax profit printed lower at N57.13billion from a high of N70.27billion in H1’19, representing an 18.7 percent decline. Profit after tax (PAT) decreased by 21.7percent to N44.43billion in H1’20 from N56.73billion in H1’19. The group gross earnings of N300.257billion in H1’20 against N293.690billion represents an increase of 2.2percent.
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Report on trading in the shares of UBA shows a total of 3,523,723,566 units were traded on the Nigerian Stock Exchange in H1’20, representing 10.3percent of the shares outstanding. The share price waned 12.6percent in the period, closing at N6.25 (from N7.15 as at December 31, 2019), reflecting the bearish performance of the Nigerian equity market, as signified by the approximately 8.8percent and 21percent loss in the Nigerian Stock Exchange All Share Index (NSE ASI) and the Banking Sector Index (NSE Bank 10) respectively during the period ended June 30, 2020.
In its corporate action announcement on the Nigerian Stock Exchange (NSE), the bank said its Register of Members will be closed on Wednesday, September 16, 2020, to enable the Registrars to prepare for payment of interim dividend.
The interim dividend will be paid to shareholders whose names appear in the Register of Members as at the close of business on Tuesday, September 15, 2020.
On Wednesday, September 23, 2020, the interim dividend will be paid electronically to shareholders whose names appear on the Register of Members as at close of business on Tuesday, September 15, 2020, and who have completed the e-dividend registration and mandated the Registrar to pay their dividends directly into their Bank accounts.
In a September 1 notice at the Exchange signed by Bili A. Odum, Group Company Secretary, UBA advised its shareholders who are yet to complete the e-dividend registration to “download the Registrar’s E-Dividend Mandate Form, which is available at http://www.africaprudential.
“The Shareholder Data Form is also available on the Registrar’s website. Duly completed forms should be returned to the Registrar or any Branch. Alternatively, scanned completed forms can be sent to [email protected] or [email protected]
