United Capital Proposes N9bn Final Dividend To Shareholders

United Capital Plc has proposed a final total dividend of N9 billion, representing 50 kobo per share to its shareholders for the year ended December 31, 2024.

The company in its audited results released on the Nigerian Exchange (NGX) yesterday showed an impressive full year, 2024 performance.

In a bid to strengthen and maximise stakeholder value in the recently concluded financial year, the Company rewarded shareholders with bonus issuance of two additional shares for every one share held in addition to our first ever interim dividend payment of 90 kobo per share.

United Capital reported gross earnings of N43.43 billion in the full year 2024, slightly down from N45.90 billion in the full year 2023. Total expenses declined by 46 per cent to N15.96 billion, compared to N29.28 billion in 2023.

Profit before tax grew by 74 per cent to N30.10 billion in 2024 from N17.30 billion in 2023. Profit after tax rose by 111 per cent to N24.10 billion in 2024, as against N11.42 billion in 2023, while earnings per share stood at N1.34 compared to N1.90 recorded in 2023.

RELATED

Again, Herdsmen Attack Udei, Kill 4 Police Officers

10 minutes ago

Expert Introduces Lightweight AI-based System For Early Aviation Failure Detection

22 hours ago

Total assets amounted to N1.70 trillion as at December 31, 2024, compared to N931.95 billion as at December 31, 2023, representing 83 per cent year-on-year growth; while shareholders fund rose by 47 per cent to N133.50 billion in 2024 from N90.71 billion as at December 31, 2023.

Speaking on the performance, the board chairman of United Capital, Prof. Chika Mordi stated that “United Capital Group held true to its philosophy of creating shared prosperity by delivering record profitability and significant corporate actions which culminated in increased total dividend payout to N14.4 billion for the 2024 financial year, up 33 per cent year-on-year from N10.8 billion payout in 2023.”

He said that “we will continue to strengthen governance frameworks across the Group to protect investors’ assets and sustain superior value delivery to our stakeholders well into the foreseeable future.”

Also, the group chief executive officer of United Capital, Peter Ashade said that “despite the challenging business environment, the Group remained resilient and delivered record profitability as PBT rose 74 per cent to N30.10 billion and PAT soared 111 per cent to N24.10 billion.

“As a testament to our strong market leadership and positioning, Shareholders’ funds increased by 47 per cent year-on-year to N133.65 billion while total assets grew to N1.70 trillion, up 83 per cent year-on-year.”

Ashade added that “as we proceed into the 2025 financial year, we remain committed to rewarding our shareholders while sustaining this remarkable performance. We are poised to lead the Nigerian capital market and unlock new opportunities on the African continent.”