By Chinwendu Obienyi
United Capital Plc has announced a dividend payout of N14.4 billion to shareholders for the 2024 financial year. The approval was given at the company’s 12th Annual General Meeting (AGM) held in Abuja recently, where shareholders lauded the company’s consistent growth trajectory and strong financial performance.
The N14.4 billion dividend, representing a 33 per cent increase from the previous year, underscores the company’s sustained commitment to delivering exceptional shareholder value. The final dividend of N0.50 per share complemented an earlier interim dividend of N0.90 per share declared within the financial year, bringing the total dividend to N1.40 per share. The announcement also followed a previously declared 2-for-1 bonus share issuance, which further enhanced shareholders’ equity positions.
The Chairman of United Capital Plc, Chika Mordi, praised the company’s resilience in the face of macroeconomic headwinds. “In 2024, our Profit Before Tax (PBT) accelerated by 74.0 per cent year-on-year to N30.10 billion in 2024, indicating impressive growth in the overall profitability of the Group. In terms of our financial position, the Total Assets of the Group appreciated by 82.6 per cent year-on-year to N1.7 trillion.” He assured shareholders of continued value delivery, adding that United Capital remains “well-positioned to deliver even greater returns in the coming years.”
Shareholders welcomed the performance and strategic direction of the Group, which also recorded a 47 per cent growth in Shareholders’ Funds to N133.50 billion. They commended the leadership’s ability to maintain strong returns despite a volatile operating environment, emphasizing the company’s consistent delivery on its value-creation agenda.
Group Chief Executive Officer, Peter Ashade, attributed the Group’s remarkable performance to disciplined execution of its strategic initiatives and the commitment of its people. “We remained committed in our mission to create sustainable value for our stakeholders despite a volatile operating environment. Our market capitalization surged by 200 per cent to N396 billion, while our Return on Average Equity (RoAE) stood at 21.5 per cent, underscoring the wealth creation and business stability we have achieved,” he said.
Ashade reaffirmed United Capital’s focus on delivering superior performance and long-term value. “Our focus remains on expanding our market leadership, enhancing innovation, and driving long-term value creation,” he stated. He added that The company’s performance in 2024 was supported by its strategic expansion into digital banking, consumer finance, and significant growth in funds under management. “With plans to further consolidate its leadership across Africa’s financial services landscape, United Capital is positioning itself as a high-performing, sustainable financial services group driving innovation and transformation on the continent.”