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United Capital proposes N3bn dividend payout amid subdued group earnings  

…represents 50kobo per share  …after tax profit rises slightly to N4.97bn 

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.

The current price is still below its 52-week high of N3.53 and a corresponding week low of N1.76. This year, the stock has outperformed the NSE ASI, gaining 20percent as at Monday as against NSEASI which has gained +2.72percent year-to-date; and later dropped to +2.63percent on Tuesday.

 

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