Shareholders of United Capital approve N9b total dividend
Shareholders of United Capital Plc, have approved a total dividend of N9 billion, culminating in N1.50 kobo due to every investor of the firm for the 2021 financial year.
At the yearly general meeting of the company held at the weekend, the chairman of the company, Chika Mordi said despite macroeconomic pressure, the firm’s total revenue rose by 40 per cent to N18.07 billion in 2021, from N12.87 billion achieved in the corresponding period in 2020.
According to him, profit before tax (PBT) also increased to N12.12 billion in 2021 representing a 53 per cent rise when compared to N7.95 billion in the previous year.
The Chairman also disclosed that the firm’s profit after tax (PAT) was up by 50 per cent to N11.92 billion signifying solid growth in the overall profitability of the group.
In addition, he said total assets rose by 104 per cent to N453.60 billion by December 2021, driven by significant growth in managed funds, while shareholders’ funds were up 25 per cent to N30.55 billion largely due to the significant growth in profit after tax.
On the group’s projections and strategic intent for the 2022 financial year, the Group Chief Executive Officer, Peter Ashade said: “Our company has again shown consistent growth and resilience in delivering on its commitment to shareholders and other stakeholders as evident in the strong positive financial metrics recorded in the year under review.
“Going into the 2022 business year, we will focus on our transformation agenda by deepening our value propositions to key market segments especially mass affluent and mass market clients and exploit new market opportunities.
Our stakeholders can be assured of our commitment to keeping an exceptional result.”
He also listed other remarkable achievements during the period beyond its impressive financial figures to include the successful launch of the United Capital Infrastructure Fund (UCIF) as a vehicle for infrastructure development in the country.
He also stated that the company’s shares were also reclassified by the Nigerian Exchange Limited (NGX) from low price stock group to medium price stock, driven by steady growth in the company’s share price.
“Just recently, United Capital Plc obtained a score of 87.24 per cent from the recertification exercise conducted by the Corporate Governance Rating System (CGRS), retaining its status as one of the companies on NGX Corporate Governance Index (CGI),” Mordi said.