The board of directors of the United Bank for Africa (UBA) is scheduled to meet in Lagos on January 27, 2020 to consider the audited financial statement for the period ended December 31, 2019, a notice released by Bili Odum, group company secretary indicated. The meeting is in compliance with post listing requirements.
Among other matters, the bank indicated that at the meeting proposal would be made regarding the final dividend for shareholders.
“In compliance with the post listing requirements of the Nigerian Stock Exchange for quoted companies, United Bank for Africa Plc hereby declares the commencement of the closed period for trading in the Bank’s shares from January 12, 2020, in respect of the Reports and Financial Statements for the period ended December 31, 2019, as well as the Final Dividend.
“Accordingly, no Director, person discharging managerial responsibility, employee with sensitive information, adviser, and consultant of the Bank and their connected persons may directly or indirectly deal in the Securities (Shares and Bonds) of the Bank until 24 hours after the release of the Audited Reports and Financial Statements of the Group for the period ended December 31, 2019 to the Nigerian Stock Exchange”, according to the notice released by the bank to the Nigerian Stock Exchange.
Investors traded 22.13 million units of UBA shares last week Friday worth N186.39 million to close at N8.35 per share which represents a year to date appreciation of 17.5 percent.
For 2018 financial year, the bank paid 65 kobo as final dividend on April 23, 2019. For 2017 financial year, the bank equally paid 65 kobo on April 23, 2018.
By third quarter ended September 2019, UBA announced N158.9 billion net interest income compared with N150.7 billion made in similar period in 2018.
Profit after tax was N81.62 billion as against N61.7 billion the bank made in same period in 2018. If the tradition is sustained, the bank’s board might recommend N0.65 per share as the final dividend.