United Capital Delivers Strong 2024 Financial Results with N2.40k Dividend Payout to Shareholders

United Capital Plc (UCAP) has announced a total dividend payout of N2.40 per share for 2024, rewarding shareholders with remarkable returns following a year of exceptional growth. The company’s profit after tax (PAT) more than doubled, rising from N11.42 billion in 2023 to N24.10 billion in 2024, reflecting a 111.03% increase. United Capital also introduced its first-ever interim dividend of 90 Kobo per share, marking another milestone in its decade-long tradition of consistent dividend payments.

In a strategic move to enhance shareholder participation, United Capital issued a 2-for-1 bonus share, expanding the total number of outstanding shares from 6 billion to 18 billion, providing existing shareholders with two additional shares for every one share they held. Alongside this, the company proposed a final dividend of 50 Kobo per share for the year, bringing the total dividend distribution to N14.4 billion, a 44% increase over the previous year.

The company’s total assets grew by 83% year-on-year to N1.70 trillion, while shareholders’ funds increased by 47% to N133.50 billion in 2024. Over the past decade, United Capital’s dividend payouts have surged by 860%, rising from 25 Kobo to the current N2.40. This significant growth in financial performance is a testament to the company’s strong market leadership and resilience in the face of challenging business conditions.

Both the Board Chairman, Prof. Chika Mordi, and Group CEO, Mr. Peter Ashade, expressed optimism about the company’s future. They highlighted the company’s unwavering commitment to delivering superior value to stakeholders and ensuring continued success in the Nigerian capital market. United Capital’s exceptional performance sets the stage for further expansion across Africa, reinforcing its position as a leading financial institution in the region.

SOURCE: THISDAY