United Capital Rewards Shareholders With N2.40K Total Dividend
Kayode Tokede
The management of United Capital Plc (UCAP) has rewarded its shareholders with N2.40k per share total dividend payout in 2024, as the company experienced a remarkable seven-year growth trajectory, culminating in an explosive surge last year.
The company on the Nigerian Exchange Limited (NGX) announced a Profit After Tax (PAT) that is more than doubled, jumping from N11.42 billion in 2023 to N24.10 billion in 2024, representing a substantial 111.03per cent increase.
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 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.
The company demonstrated strong dividend growth. In 2024, the company distributed N14.4 billion in dividends, reflecting a substantial 44% increase over the previous year’s N10.0 billion. Looking at the long-term, United Capital’s dividend payouts have skyrocketed by 860per cent in the last 10 years, moving from 25 Kobo to N2.40.
The company announced that its total Asset rose by 83per cent year-on-year to N1.70 trillion, while shareholders’ funds grew by 47per cent year-on-year to N133.50 billion in 2024 financial year.
Commenting on United Capital group’s 2024 audited financial statements, the Board Chairman, Prof. Chika Mordi, said, “United Capital Group held true to its philosophy of creating shared prosperity by delivering record profitability and significant corporate actions which culminated in increased total dividend payout to N14.4billion for the 2024 financial year, up 33per cent year-on-year from N10.8 billion payout in 2023.
“We will continue to strengthen governance frameworks across the Group to protect investors’ assets and sustain superior value delivery to our stakeholders well into the foreseeable future.
On the Group’s performance, the Group Chief Executive Officer, Mr. Peter Ashade, had this to say: “I am honoured to inform our stakeholders of the Group’s stellar financial performance during the financial year 2024.
“Despite the challenging business environment, the Group remained resilient and delivered record profitability as PBT rose 74per cent to N30.10billion and PAT soared 111per cent to N24.10billion.
As a testament to our strong market leadership and positioning, Shareholders’ funds increased by 47per cent year-on-year to N133.65 billion while total asset grew to N1.70 trillion, up 83% year-on-year.
“In a bid to strengthen and maximise stakeholder value in the recently concluded financial year, United Capital Group rewarded shareholders with bonus issuance of 2 additional shares for every 1 share held in addition to our first ever interim dividend payment of N0.90 kobo per share.
“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.
“Finally, I sincerely appreciate our Customers, Shareholders, Technical Partners, Board of Directors, Management Team, Employees and Regulatory bodies for their unwavering support and contributions to our success and business growth.”
