United Capital Plc, pan-African financial and investment services group, has declared N30 billion as Profit Before Tax (PBT) for the 2024 financial year ended December 31, 2024.
The shareholders also approved a total dividend payout of N14.4 billion for the 2024 financial year.
The shareholders also endorsed the declaration of a final dividend of N0.50 per share, complementing the interim dividend of N0.90 per share distributed within the financial year.
Speaking during the Group’s 12th Annual General Meeting (AGM) in Abuja on Friday, Prof. Chika Mordi, Chairman of the United Capital Plc, said the dividend represented a 33 per cent increase from the corresponding period of 2023.
He said the PBT accelerated by 74 per cent year-on-year which indicated growth in the profit of the group.
Mordi said the total assets of the group grew by 82.6 per cent year-on-year to N1.7 trillion.
The chairman reassured investors of the company’s commitment to sustain the growth momentum, saying the company remained well-positioned to deliver greater returns.
Mr Peter Ashade, the Chief Executive Officer (CEO), United Capital Plc, attributed the company’s success to strategic execution, operational excellence, and the dedication of its leadership team and employees.
”We remain committed in our mission to create sustainable value for our stakeholders in spite a volatile operating environment.
”Our market capitalisation surged by 200 per cent to N396 billion, while our Return on Average Equity (RoAE) stood at 21.5 per cent.
”This underscores the wealth creation and business stability we have achieved.
”Our focus remains on expanding our market leadership, enhancing innovation, and driving long-term value creation,” he said.
Some of the shareholders who spoke at the meeting commended the company’s consistent delivery of returns.
Alhaji Mukhtar Mukhtar, the Chairman of Trusted Shareholders Association of Nigeria, appreciated the company for the bonus share issuance that enhanced their equity.
He said the robust shareholder value creation reflected on the 47 per cent growth of shareholders’ funds to N133.50 billion.
Mrs Adetutu Siyonbola, the President, Highly Favoured Shareholders Association of Nigeria, appealed to the company to address the gender balancing in its managerial team.
Mr Moses Igbrude, the National Coordinator, Independent Shareholders Association of Nigeria, commended the company for the recorded profit.
Igbrude called for more efforts from the team to ensure greater growth.
Truthng reports that United Capital Plc offers Investment Banking, Asset Management, Trusteeship, Securities Trading, Wealth Management, Consumer Finance, and Microfinance Banking.
The group aims to transform the African continent by providing innovative and creative investment banking solutions to governments, companies, and individuals.
