United Capital Plc has posted gross earnings of N18.07 billion, and operating Profit Before Tax (PBT) of N12.12 billion in its full-year 2021 operations.
The firm’s audited result for year ended December 31, 2021 showed 40 per cent rise in gross earnings while PBT grew by 53 per cent. The company’s total assets also increased by 104 per cent year-on-year to N453.60 billion while shareholders’ funds rose by 25 per cent to N30.55 billion from N24.43 billion achieved in the corresponding period in 2020.
Based on the improved performance, the directors of the company are proposing a 114 per cent increase in dividend to N1.50 for every 50 kobo ordinary share.
Reacting to the performance, the Chairman of the board, Professor Chika Mordi said: “We are proposing N1.50 dividend for every 50 kobo ordinary share, up 114 per cent over the 70 kobo dividend paid last year. This affirms our commitment to wealth creation for our shareholders.”
Commenting on the Group’s performance, the Group Chief Executive Officer, Peter Ashade, attributed the improved performance to strong exponential growth in business activities across all the market segments.
According to him, the firm has successfully navigated a volatile operating environment to create best-in-class solutions for our clients.
He pointed out that the company is on a progressive path as witnessed in its strong earnings growth, and superior value delivery to shareholders over the years, amongst other metrics that are reflective of high-performing organisations.
He assured stakeholders of the firm’s commitment to sustaining its organisational growth trajectory into the foreseeable future as it strives to navigate the tough operating terrain.
“We will continue to pursue developmental activities and actively engage regulatory authorities, investors, and relevant stakeholder groups towards deepening the capital market, strengthening the broader financial system, and driving financial inclusion as a means of accelerating the economic development of our dear country and empowering its citizens.
He said the group is at the forefront of becoming the financial and investment role model across Africa by leveraging innovation, technology, and specialist skills to exceed client expectations while creating more value for all stakeholders.
