United Capital shareholders approve N10.8bn dividend

L-R: Oladipupo Fatokun – Independent, Nonuplpm-Executive Director, United Capital Plc, Rose Eshiett – Non-Executive Director, United Capital Plc, Emmanuel Nnorom, Non-Executive Director, United Capital Plc, Peter Ashade – Group CEO, United Capital Plc, Chika Mordi – Chairman Board of Directors, United Capital Plc, Sunny Anene – Deputy Group, Executive Officer, United Capital Plc, Leo Okafor, Company Secretary/Group Counsel, United Capital Plc, Ayodeji Adigun – Chief Operating Officer/ Executive Director, Chiugo Ndubisi – Non-Executive Director, United Capital Plc, Sam Nwanze – Non-Executive Director, United Capital Plc.

By Ginika Okoye

The shareholders of the United Capital Plc, a leading Pan-African financial services group, have approved a dividend payout of N10.8 billion, equivalent to N1.80 per share for the financial year ended Dec. 31, 2023.

The dividend was approved at the company’s 11th Annual General Meeting in Abuja on Tuesday.

Prof. Chika Mordi, the Chairman of the Board of Directors, United Capital Plc, commended the consistent impressive financial performance of the group.

Mordi said the company was committed to delivering consistent superior returns to the stakeholders.

He also outlined strategies to navigate potential challenges in 2024, attributing confidence to the resourcefulness and dedication of its staff.

He said the company’s total revenue accelerated by 71 per cent year-on-year to N45.9 billion in 2023 from N26.9 billion of 2022.

According to him, profit before tax increased by 28.2 per cent to N17.3 billion in 2023 from N13.5 billion recorded in 2022, indicating impressive growth in the overall profitability of the group.

”United Capital Plc also achieved significant milestones during the year, with its share price closing at N23, up 64 per cent from the previous year.

”Market capitalisation increased by 64 per cent to N138 billion.

”Its subsidiaries also excelled in various sectors – its securities business ranking first in terms of volume of stocks traded on the Nigerian Exchange (NGX).

”Its asset management business launched the United Capital Global Fixed Income Fund consolidating its position as the second largest USD fund manager in Nigeria,” he said.

Mr Peter Ashade, the Group Chief Executive Officer, unveiled the company’s outlook for 2024, Winning Amid the Volatile Operating Environment.

”Our objectives for 2024 are centered around unlocking further opportunities for our stakeholders.

”To realise this vision, we are committed to establishing a dynamic, efficient, and agile one-stop-shop financial institution.

”This institution will embody a digital-driven mindset, enabling us to deliver best-in-class services while ensuring superior shareholder value,” Ashade said.

The News Agency of Nigeria (NAN) reports that United Capital Plc offers Investment Banking, Asset Management, Trusteeship, Securities Trading, Wealth Management, and Consumer Finance.

The group is listed on the Nigerian Exchange Ltd. (NAN)(www.nannews.ng)

============
Edited by Chinyere Joel-Nwokeoma