Shareholders Approve United Capital’s N14.4bn Dividend
Shareholders have approved a total dividend payout of N14.4bn declared by the board of United Capital Plc for the 2024 financial year.
The approval was given at the company’s 12th Annual General Meeting (AGM) held on Friday. This represents a 33 per cent increase from the previous year.
The meeting, which brought together shareholders and key stakeholders, served as an opportunity to review the company’s outstanding results for the 2024 financial year and outline its strategic vision for continued growth.
In his opening remarks, Chairman of United Capital Plc, Prof. Chika Mordi, highlighted the company’s financial performance despite macroeconomic challenges.
“In 2024, our Profit Before Tax (PBT) accelerated by 74.0 per cent year-on-year to N30.10bn 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 N1.7trn.”
Mordi reassured investors of the company’s commitment to sustaining this momentum, stating that United Capital remains well-positioned to deliver even greater returns in the coming years.
The declaration of a final dividend of N0.50 per share, complementing the interim dividend of N0.90 per share distributed within the financial year, received unanimous shareholder endorsement.
Shareholders commended the company’s consistent delivery of strong returns, spotlighting the previously declared 2-for-1 bonus share issuance that significantly enhanced their equity positions.
This shareholder value creation is reflected in the 47 per cent growth of Shareholders’ Funds to N133.50bn.
Group CEO of United Capital Plc, Peter Ashade, attributed the company’s continued success to strategic execution, operational excellence, and the dedication of its leadership team and employees.
“We remained committed to our mission to create sustainable value for our stakeholders despite a volatile operating environment. Our market capitalization surged by 200 per cent to N396bn, 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.
Looking ahead, Ashade reaffirmed United Capital’s commitment to sustaining its growth trajectory and delivering superior performance in 2025.
“Our focus remains on expanding our market leadership, enhancing innovation, and driving long-term value creation,” he said.
Shareholders Approve United Capital’s N14.4bn Dividend is first published on The Whistler Newspaper
