Shareholders of United Capital Approve N14.4bn Dividend Pay-out
CHIGOZIE AMADI
Shareholders of United Capital Plc have unanimously endorsed a total dividend payout of N14.4 billion for the 2024 fiscal year—a 33per cent increase from the previous year.
At its 12th Annual General Meeting (AGM) held in Abuja, the Board Chairman, Prof. Chika Mordi, lauded the Group’s sterling financial performance during the exceptional year, noting that Profit Before Tax (PBT) surged 74 per cent year-on-year to N30.10 billion, while Total Assets experienced an unprecedented growth of 82.6per cent, reaching N1.7 trillion.
“These figures are not merely financial metrics; they underscore a resilient business model and disciplined execution,” Mordi stated, expressing confidence in the Group’s trajectory toward even greater profitability.
Investors and stakeholders welcomed the Board’s declaration of a final dividend of N0.50 per share, supplementing the N0.90 interim dividend already distributed during the year.
The dividend distribution was further buoyed by a 2-for-1 bonus share issuance, which significantly deepened shareholder equity positions. Shareholders’ funds rose 47per cent to N133.50 billion, a testament to United Capital’s relentless drive to enhance investor wealth.
In his remarks, the Group Chief Executive Officer, Peter Ashade, attributed the firm’s continued success to its strategic clarity and operational discipline.
“Despite prevailing economic volatility, we remained focused on our mission to deliver sustainable returns. Our market capitalization soared by 200% to N396 billion, while Return on Average Equity (RoAE) stood at a robust 21.5per cent, reinforcing both value creation and institutional resilience,” Ashade said.
Highlighting the company’s successful foray into digital banking and consumer finance, Ashade reaffirmed United Capital’s commitment to innovation, market leadership, and regional expansion. “As we look to 2025, we are determined to push boundaries, deepen our footprint, and set new standards across Africa’s financial landscape.”
With a legacy of excellence and a forward-looking strategy, United Capital Plc continues to chart a course toward becoming the continent’s benchmark for financial innovation and investment stewardship.
