United Capital Plc has released its audited financial statements for the year ended December 31, 2021 where it proposes 114percent increase in dividend to N1.50 for every 50 kobo ordinary share. Its gross earnings increased to N18.07 billion in full year (FY) 2021, compared to N12.87 billion in 2020, representing 40 percent growth year-on-year. Operating Income stood high at N16.24 billion in 2021, compared to N12.49 billion in FY 2020 (30 percent growth year-on-year).
The proposed dividend which amounts to N9billion will be paid to shareholders upon approval by members at the annual general meeting (AGM). The dividend is payable to shareholders whose names appear on the Register of Members at the close of business on March 23, 2022.
United Capital Plc is a leading Pan-African financial and investment services group, with a mission to provide bespoke and innovative value-added services to its client. The group aims to transform the African continent by providing innovative and creative investment banking solutions to governments, companies, and individuals.
In the review 2021 financial year, United Capital recorded operating expenses of N5.94billion compared to N4.93 billion in FY 2020, representing an increase by 21 percent year-on-year.
Its operating Profit Before Tax (PBT) in 2021 was N12.12 billion compared to N7.95 billion in 2020, which represents 53percent growth year-on-year. Profit After Tax (PAT) of N11.26 billion in FY 2021 compared to N7.81 billion in 2020 represents 44percent growth year-on-year.
Earnings Per Share (EPS) of 188 Kobo as against 2020 low of 130kobo represents 44percent growth year-on-year. At N12 per share the stock traded on Friday February 18, it implies positive return of 21.2percent year-to-date (YtD).
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Total Assets was N453.60billion, compared to N222.75 billion as at 2020 (104percent year-on-year growth). Total Liabilities of N423.05 billion, compared to N198.32billion as at 2020 (113percent year-on-year growth). The company’s shareholders’ fund increased by 25 percent to N30.55 billion compared to N24.43 billion as at 2020.
Speaking on the audited financial results, Chika Mordi (Professor), the Board Chairman stated: “We are proposing N1.50 dividend for every 50 kobo ordinary share, up 114percent over 70 kobo dividend paid last year. This affirms our commitment to wealth creation for our shareholders”.
Commenting on the Group’s performance, the Group Chief Executive Officer, Peter Ashade said: “Our strong performance was driven by exponential growth in business activities across all the market segments that we serve as we successfully navigated a volatile operating environment to create best-in-class solutions for our clients.”
The Group CEO said, “United Capital is on a progressive path as witnessed in our strong earnings growth and superior value delivery to shareholders over the years, amongst other metrics that are reflective of high performing organisations.
All stakeholders can be assured of our commitment to sustain our organisational growth trajectory well into the foreseeable future as we navigate the tough operating terrain. We will continue to pursue developmental activities and actively engage regulatory authorities, investors and relevant stakeholder groups towards deepening the capital market, strengthening the broader financial system and driving financial inclusion as a means of accelerating the economic development of our dear country and empowering its citizens”.
