Tuesday, April 13, 2021

UBA proposes N11.97 billion as final dividend for shareholders

The Board of United Bank for Africa Plc (UBA), has proposed a sum of N11.97 billion as the final dividend to be paid to shareholders for the period ended 31st of December 2020.

This is according to a disclosure signed by the company’s secretary, Bili Odum and seen by Nairametrics.

According to the notice, the approval of this proposed dividend at the imminent Annual General Meeting scheduled on April 1, 2021 will see the financial giant pay out a final dividend of N0.35 kobo for each of the outstanding 34,199,421,368 ordinary shares of the company, held by its shareholders.

Despite posting double-digit growth in key financial metrics such as PAT of N113.8 billion (+27.7%), as shown in its recent audited financial statement for FY 2020, UBA Plc proposed a lower dividend, compared to a sum of N0.80 declared last year, indicating a decline of 56.25% YoY.

It is also pertinent to note that the Bank had earlier paid an interim dividend of N0.17 kobo, thereby raising its total dividend for the year to N0.52 kobo.

What you should know

  • UBA Plc had earlier released its audited FY 2020 results showing a Profit After Tax of N113.77 billion (+27.7% YoY).
  • Other key financial metrics also recorded double-digit growth within the aforementioned period under review; PBT (+18.5%), EPS (27%), R.O.E (15.7%) etc.
  • UBA shares closed at N8 yesterday, Monday 8th March 2021.

Culled from Nairametrics

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