Following the release of its audited financial results for 2020, United Capital Plc, at its Annual General Meeting, on Tuesday, ratified the payment of N4.2 billion as a dividend to its shareholders.
At the proxy meeting, the company presented its financial performance for 2020 which shows revenue of N12.87 billion; N7.95bn in Profit Before Tax (PBT) and earnings per share of 130 Kobo.
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PBT grew to N7.95bn in 2020, up by 61 per cent from N4.95bn in 2019, signifying growth in the overall profitability of the group. Chairman of the Board of Directors, Mr Chika Mordi, in his statement to shareholders, noted that “Despite the macroeconomic pressure, United Capital Plc reported an outstanding financial performance in 2020. Total revenue was up 50% year on year to N12.87 billion in 2020, from N8.59 billion earned in 2019.”
The shareholders commended the company for its transparency in the published financial statements and approved the payment of 70 kobo per share, totalling N4.2bn. They also approved the appointment of two new Independent Non-Executive Directors – Mr Titus Oladipupo Fatokun and Hajiya Sutura Aisha Bello.
Speaking on this year’s outlook, the Group CEO, Mr Peter Ashade, said: “For us at United Capital, we are optimistic about the year 2021 as it presents greater opportunities for innovation, growth and expansion beyond our current ecosystem.”
