UBA Shareholders Approve N5 Per Share Dividend For 2024

Shareholders of United Bank for Africa (UBA) have approved a total dividend of N5 per share for the year ended December 31, 2024.

The shareholders gave their approval at the Bank’s 62nd Annual General Meeting held in Abuja. The Bank having paid an interim dividend of N2.00 per share in the course of the 2024 financial year, a final dividend of N3.00 per share was declared, making it a total N5.00 per share.Speaking at the AGM, the chairman of UBA, Tony Elumelu said, “in 2024, our Group marked our 75th anniversary, 75 solid years of unwavering commitment to excellence, innovation, and service. 75 years.

“Our existence for three-quarters of a century is a testament to our resilience and institutionalization, a testament to our consistency and our firmness of purpose. Throughout our over seven decades, our group has demonstrated a capacity to adapt, to transform, and to disrupt, establish, further and uphold a fundamental responsibility to our customers and shareholders.”

Elumelu noted that the Group delivered another very strong year, generating gross revenue of N3.2 trillion, and profit after tax of N767 billion. We successfully sustained our deposit mobilisation efforts, growing total deposits by 42 per cent to N24.6 trillion, up from N17.4 trillion in the corresponding period of 2023.

“Additionally, our loan book expanded by 35 per cent to N7.5 trillion, up from N5.5 trillion, demonstrating our commitment to fund growth and make our contribution to Nigeria and Africa’s economic transformation.

“UBA group maintained a well-structured and diversified balance sheet with total assets and shareholders’ funds closing at N30.3 trillion and N3.4 trillion respectively.”

He stated that “these very strong results reflect the execution of our long-term strategy, the hard work of our dedicated staff, providing tangible solutions to real needs and delivering value, innovation, and service to all.”

The GMD/CEO of UBA, Oliver Alawuba commended the shareholders for their support, saying “I would like to tell you that the primary focus of UBA is the customer. The customer is the reason why we exist as UBA. We want to make sure that we improve the customer experience. These days, the best way to improve customer experience when serving about 45 million customers around the world is through digital banking.

“We are investing heavily in digital banking to improve your experience when you interact digitally or even physically with UBA. We are also using technology to ensure there’s no fraud with the Customer account. We have invested to ensure that any money you deposit with UBA will remain secure.”

Alawuba added that “for 2025 full year presents an opportunity to consolidate our achievements and chart a course for even greater success. With a focus on disciplined execution, market leadership, and innovation, UBA is well-positioned to deliver long-term value to shareholders and foster economic growth in the communities we serve.”