• Thursday, July 18, 2024
businessday logo

BusinessDay

United Capital shareholders approve N9bn dividend payout

United Capital proposes 90kobo interim dividend, bonus of 2 new shares for 1

The shareholders of United Capital Plc has approved a dividend payout of N9billion at the company’s Annual General Meeting held in Abuja.

The approved dividend translates to a dividend of N1.50 for every 50 kobo ordinary share, much to the satisfaction of shareholders.

It was a dual celebration as the company marked its 10th year as a listed company on the Nigerian Exchange Limited (NGX).

Providing context for the financial performance at the meeting, Chairman of the Board of United Capital, Chika Mordi said “Despite the macroeconomic pressures of 2022, United Capital reported an outstanding financial performance.

“The Group’s Return on Average Equity (RoAE) for the 2022 financial year was one of the highest among listed financial services institutions, signifying solid growth in the overall profitability of the Group and its subsidiary businesses.”

Read also: Market drops by 0.42% as investors sell United Capital, GSK, others

He added that, “We are confident in our ability to deliver consistent superior returns as we have put in place appropriate strategies to respond to possible scenarios that the year 2023 could throw at us.”

In addition to its outstanding financial performance, United Capital’s subsidiaries individually recorded significant milestones during the year.

The Investment Bank acted as Joint Issuing House to Dangote Industries Limited (DIL) $1 billion bond issuance, the largest bond issuance in the Nigerian Debt Capital Market by a corporate entity.

Its Asset Management subsidiary won the award for the Fastest Growing Investment Management Company in Nigeria at the 2022 International Finance Awards and remains among the top three fund managers in Nigeria.