The directors of United Capital Plc have proposed that a dividend of 30kobo per share amounting to N1.8billion, be paid to shareholders upon approval at the company’s Annual General Meeting for the financial year ended December 31, 2018.
This proposed dividend represents a decline of 14.29 percent when compared to 35kobo dividend the company paid in 2017 financial year.
This proposed dividend payout follows an impressive audited financials which the company released at the Nigerian Stock Exchange (NSE) on Thursday February 21, 2019. United Capital Plc is the first investment bank in Nigeria to be listed on the Nigerian Stock Exchange.
It is a holding company with three subsidiaries namely United Capital Trustee Limited, United Capital Asset Management Limited, and United Capital Securities Limited.
Highlights of the financials show that United Capital Plc reported gross earnings of N9.259billion in the financial year ended December 31, 2018, from a low of N8.915billion in 2017, representing an increase of 3.86percent.
While interest and similar income in the review financial year increased by 4.99percent to N1.904billion, from N1.813billion in 2017; profit before income tax increased by 12.14percent to N6.221billion from N5.547billion in 2017.
The company reported 0.56 percent decline in profit after tax (PAT) to N4.337billion against N4.362billion in 2017 financial year. Shareholders’ fund at N15.834billion in 2018 against N16.766billion in 2017 represents a decline of 5.56percent.
Basic Earnings Per Share (EPS) increased to 72kobo from 73kobo in 2017, representing a decline of 0.56percent. Return On Equity (ROE) at 27.40percent in 2018 financial year as against 26.02percent in 2017 financial year, represents an increase of 5.30percent.
The share price was down by 20kobo or 5.76percent to N3.27kobo on Thursday from a preceding day high of N3.47kobo. The share price has gained 16percent this year. United Capital Plc market capitalisation is N19.620billion on shares outstanding of 6billion units.
