United Capital Plc (UCAP) has posted a Profit After Tax (PAT) of N24.10 billion in its 2024 operations, representing 111.03 per cent increase over N11.42 billion recorded in correspinding period in 2023.

The firm also introduced its inaugural interim dividend of 90 Kobo per share in the 2024 financial year, in addition to a 2-for-1 bonus share issuance in a deliberate efforts to increase shareholder value on investment.

Based on the action, the total number of the firm’s outstanding shares rose 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 has continued 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. In 2024, the company distributed N14.4 billion in dividends, reflecting a substantial 44 per cent increase over the previous year’s N10.0 billion.

On a long-term basis, United Capital’s dividend payouts have skyrocketed by 860 per cent in the last 10 years, moving from 25 kobo to N2.40 kobo.

Further breakdown of the firm’s 2024 performance showed that gross earnings also 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.

Its 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.

Also, net trading income increased by 61.17 per cent arising from gains from sale of financial instruments.

The company’s total expenses dropped by 45.51 per cent, showing the company’s ability to manage its expenses while total expenses -to-gross earnings declined significantly by 63.26 per cent compared to 36.20 per cent drop in 2023.

Profit before income accelerated by 73.96 per cent showing continuous increase in profitability while Profit for the year surged by a significant 111.06, delivering value to stakeholders.

Reacting on the performance, the Group CEO,  Peter Ashade, 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.”