United Capital Plc (UCAP) is set to pay a total dividend of N2.40 per share in 2024 financial year.
The company paid interim dividend of N0.90 Kobo and financial dividend of N1.50, bringing the total to N2.40 per unit.
The company, which has experienced a remarkable seven-year growth trajectory, culminating in an explosive surge in 2024, doubled its profit after tax during 2024 financial year, recording N24.10 billion.
The profit grew by 111.03 per cent compared with N11.42 billion reported in 2023.
Building on a decade of consistent dividend payments, United Capital achieved a significant milestone in 2024 by introducing its inaugural interim dividend of 90 Kobo per share, showcasing its exceptional financial performance.
Additionally, United Capital executed a 2-for-1 bonus share issuance in 2024, a strategic move to increase shareholder participation. This action increased the total number of outstanding shares from 6 billion to 18 billion, adding 12 billion new shares. This means that for each existing share, shareholders received two additional shares, bringing their total holdings to three shares for every initial share owned.
United Capital Plc continues to deliver value to its shareholders, proposing a final dividend of 50 Kobo per share for the 2024 financial year. This brings the company’s total dividend distribution for the year to N2.40 Kobo.
The company result showed that gross earnings rose by 82.50 per cent due to income from loans, dividend income from securities investments, interest from placements and bonds, showcasing active trading strategy of the Company.
Fee and commission income surged by 80.18 per cent emanating from financial advisory fees and other fees and commissions, confirming industry leadership of the Company.
Net trading income increased by 61.17 per cent arising from gains from sale of financial instruments while net gain on financial assets at fair value through profit and loss grew by 18.77 per cent, reinforcing the Company’s commitment to growing its assets.
The company said “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.”