United Capital Plc board of directors have approved a total dividend of N9 billion for the financial year ended Dec. 31, 2021.
A statement issued by the company’s Chairman, Mr Chika Mordi said the dividend which translated to N1.50 for every 50k share was an increase of 114 per cent when compared with 70k paid in 2020.
He said that in spite of the macroeconomic pressure, the company’s total revenue was up by 40 per cent year-on-year to N18.07 billion from N12.87 billion achieved in 2020.
“Operating profit before tax grew to N12.12 billion in 2021, up by 53 per cent from N7.95 billion in 2020.
“While profit before tax was up by 50 per cent to N11.92 bn, total assets of the Group rose by 104 per cent year-on-year to N453.60 billion by December 2021.
Commenting on the Group’s projections and strategic intent for the 2022 financial year, the Group Chief Executive Officer, Mr. Peter Ashade, said: “Our company has again shown consistent growth and resilience in delivering on its commitment to shareholders and other stakeholders as evident in the strong positive financial metrics recorded in the year under review.
“Going into the 2022 business year, we will focus on our transformation agenda by deepening our value propositions to key market segments especially mass affluent and mass market clients and exploit new market opportunities. Our stakeholders can be assured of our commitment to keep delivering an exceptional result.”
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