United Capital Plc has announced a final dividend of N9 billion, equivalent to 50 kobo per share, for the year ended December 31, 2024. This proposal comes after the company’s strong performance in the 2024 financial year, according to its audited results released on the Nigerian Exchange (NGX). In addition to the final dividend, United Capital had previously issued bonus shares and an interim dividend of 90 kobo per share to enhance shareholder value.
For the year, United Capital reported gross earnings of N43.43 billion, a slight decline from N45.90 billion in 2023. However, total expenses dropped significantly by 46%, from N29.28 billion in 2023 to N15.96 billion in 2024. This led to an impressive 74% increase in profit before tax (PBT), reaching N30.10 billion. Profit after tax (PAT) also saw a remarkable 111% growth, rising to N24.10 billion, compared to N11.42 billion in 2023.
The company’s total assets surged to N1.70 trillion as of December 31, 2024, reflecting an 83% year-on-year growth, while shareholders’ funds increased by 47% to N133.50 billion. This financial performance highlights the company’s robust market position despite challenges in the business environment. United Capital’s board chairman, Prof. Chika Mordi, emphasized the company’s focus on creating shared prosperity and its commitment to delivering value to stakeholders.
Peter Ashade, the group CEO, reaffirmed the company’s dedication to rewarding shareholders and maintaining its market leadership in the Nigerian capital market. He also outlined the company’s future ambitions to expand its presence across Africa while continuing to focus on governance and asset protection to sustain long-term success.
SOURCE: LEADERSHIP