The shareholders of the United Bank for Africa (UBA) Plc. have approved the Board’s proposal to pay a dividend of N1.10 per share for the financial year ended December 31, 2022.
The shareholders gave their approval at the bank’s 61st Annual General Meeting (AGM), held virtually on Thursday, April 27.
The bank had earlier paid an interim dividend of 20 kobo per share during the 2022 half year, while a dividend of 90k was declared at the end of the 2022 financial year bringing the total of N1.10 per share.
In his address, UBA Group Chairman, Tony Elumelu, took time out to appreciate shareholders, who have stood by the bank in the past years, as he noted that this continues to encourage the board to do more.
Elumelu said: “We appreciate all our regulators, customers and shareholders, who have partnered with us in this exciting journey of growth, and in 2023, we hope to do even better than we did in the year 2022.”
At the end of the 2022 financial year, UBA delivered gross earnings of N853 billion, up 29.2 per cent on the prior year, and an operating income of N593 billion, representing an increase of 33.8 per cent from N443 billion in 2021. Profit Before Tax increased by 31.2 per cent to N201 billion from N153 billion recorded in 2021 while Profit After Tax rose by 43.5 per cent to close the year at N170 billion from N119 billion in 2021.
UBA’s Group Managing Director/Chief Executive Officer, Oliver Alawuba, who spoke on plans to consolidate the bank’s investments in Africa, said: “We are positioned to take Africa to the world and bring the world to Africa through capital, investment funds, trade flows and remittances flows’’