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United Capital sustains N1.50 dividend per share

Foremost investment bank and pan-African financial services group, United Capital Plc, has maintained its multi-year success streak of N1.50 dividend payout for every 50 kobo…

Foremost investment bank and pan-African financial services group, United Capital Plc, has maintained its multi-year success streak of N1.50 dividend payout for every 50 kobo ordinary share.

This is evidenced in its recently announced audited financial statements for the fiscal year ended December 31, 2022, as submitted to the Nigerian Stock Exchange (NGX).

The company proposed N1.50 for every 50 kobo ordinary share to its shareholders in spite of economic oscillations.

Specifically, United Capital Plc recorded impressive margins, with its gross earnings rising by 49% year-on-year to N26.90 billion, and profit before tax rising by 13% year-on-year to N13.50 billion.

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The company also recorded 33% year-on-year growth in total assets to the tune of N601.92 billion while shareholders’ funds increased by 8% year-on-year to N32.99 billion.

The Group Chief Executive Officer, United Capital Plc, Mr Peter Ashade, while commenting on the financial performance said in year 2022, the company navigated a difficult terrain to sustain its earnings growth and deliver returns to shareholders.

“Our operating environment despite the undulating landscape continues to present windows of opportunities for all our businesses in the locations we operate.

“This is accentuated by the 49% growth in revenue to N26.90 billion which helped offset increased operating expenses resulting from very high inflation and severely impacted the macroeconomic environment which we anticipated in Q4-2022.