Following the publication of its financial performance for FY 2022, shareholders of the United Capital Plc, have approved the company’s declaration of a N9 billion dividend payout.
This came on the back of the company’s Annual General Meeting (AGM) which held in Abuja, recently.
Despite evident market volatility, the company’s board of directors announced a 13 per cent year-on-year (y-o-y) increase in Profit Before Tax (PBT) to N13.50 billion, a 49 per cent year-on-year increase in Gross Earnings to N26.90 billion, and a 33 per cent year-on-year increase in Total Asset to N601.92 billion.
The board also resolved to declare a dividend of N1.50 for every 50 kobo ordinary share, much to the satisfaction of shareholders. Providing context for the financial performance, Prof. Chika Mordi, Chairman of the Board of United Capital Plc, said that despite the macroeconomic pressures of 2022, United Capital Plc reported an outstanding financial performance. the Group’s Return on Average Equity (RoAE) for the 2022 financial year was one of the highest among listed financial services institutions, signifying solid growth in the overall profitability of the Group and its subsidiary businesses.
Reassuring shareholders, he said,”We are confident in our ability to deliver consistent superior returns as we have put in place appropriate strategies to respond to possible scenarios that the year 2023 could throw at us”.
Speaking on the company’s outlook for the 2023 financial year, Group Chief Executive Officer, Mr. Peter Ashade, said it has been a decade of excellence and progress for both the organisation and its shareholders.
“This year, business sustainability, innovation, digitalization, and increasing global competition for talent are mega trends that will define how we operate given our long-term business objectives and goals. We will continue to position the organization as a globally reputable financial institution with the best team of professionals creating solutions and unique experiences for our clients and delivering superior value to all stakeholders while fostering social development and promoting financial inclusion across the geo-political zones that we operate.”, Ashade said.