United Capital Plc held its 12th yearly general meeting at the Transcorp Hilton Hotel, Abuja, where shareholders approved a total dividend payout of N14.4 billion for the 2024 financial year.

The amount represents a 33 per cent increase from the previous year, reinforcing the company’s commitment to delivering exceptional value to its investors.

The meeting, which brought together shareholders and key stakeholders, served as an opportunity to review the company’s outstanding results for the 2024 financial year and outline its strategic vision for continued growth.

The chairman of United Capital, Prof. Chika Mordi, highlighted the company’s outstanding financial performance despite macroeconomic challenges.

“In 2024, our profit before tax (PBT) accelerated by 74 per cent year-on-year to N30.1 billion in 2024, indicating impressive growth in the overall profitability of the Group. In terms of our financial position, the total assets of the Group appreciated by 82.6 per cent year-on-year to N1.7 trillion,” he said.

Mordi reassured investors of the company’s commitment to sustaining this momentum, stating that United Capital remains well-positioned to deliver even greater returns in the coming years.

The declaration of a final dividend of N0.50 per share, complementing the interim dividend of N0.9 per share distributed within the financial year, received unanimous shareholder endorsement. Investors commended the company’s consistent delivery of strong returns, spotlighting the previously declared 2-for-1 bonus share issuance that significantly enhanced their equity positions. This robust shareholder value creation is reflected in the 47 per cent growth of shareholders’ funds to N133.5 billion.

Group CEO of United Capital, Peter Ashade, attributed the company’s continued success to strategic execution, operational excellence, and the dedication of its leadership team and employees.

“We remained steadfast in our mission to create sustainable value for our stakeholders despite a volatile operating environment. Our market capitalisation surged by 200% to N396 billion, while our return on average equity (RoAE) stood at 21.5 per cent, underscoring the wealth creation and business stability we have achieved,” he said.