Union Bank to pay 25k dividend

Union Bank of Nigeria Plc on Tuesday held its 52nd annual general meeting where the shareholders approved the dividend of 25 kobo per 50 kobo ordinary share.

They also approved the 2020 annual accounts presented by the Board Chairman, Mrs Beatrice Hamza Bassey.

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She highlighted key achievements of the bank in 2020 including the continued focus on digital innovation for high-quality service delivery across touch points.

“The bank’s multipronged approach to supporting the fight against COVID-19, and the prompt pivot to remote work for over 70% of employees at the height of the pandemic, owing to strategic investments in digital technologies before the pandemic.”

Major highlights of the bank’s financial performance in 2020 shows that profit before tax grew by 2.8% to N25.4 billion, from N24.7bn in 2019.

Commenting on the bank’s plans for 2021, the Chief Executive Officer, Mr. Emeka Okonkwo said: “As we begin a new chapter, we will continue the journey to becoming a leading financial institution in Nigeria. Sustaining value to our shareholders remains at the core of our continuous drive and we remain committed to delivering improved profitability and higher returns in 2021 and beyond.”