United Capital Plc Distributes Billions in Dividends; Total Amount Revealed

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United Capital Plc has distributed a whopping N14.4 billion in dividends to its shareholders for the 2024 business year, following a remarkable doubling of its earnings. According to the company’s audited report and accounts for the year ended December 31, 2024, net profit soared by 111.03% from N11.42 billion in 2023 to N24.10 billion in 2024.

The company’s gross earnings also experienced significant growth, rising by 82.50% due to increased income from loans, dividend income from securities investments, interest from placements and bonds, and an active trading strategy. Fee and commission income jumped by 80.18%, driven by enhanced financial advisory fees and other fees and commissions, solidifying the company’s industry leadership.

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Net trading income increased by 61.17% due to gains from the sale of financial instruments, while net gain on financial assets at fair value through profit and loss grew by 18.77%, underscoring the company’s commitment to growing its assets.

With a significant improvement in its bottom-line, United Capital declared a final dividend of 50 kobo per share, bringing the total gross cash dividends to N14.4 billion or a dividend per share of N2.40. This follows an interim dividend of 90 kobo and a scrip dividend of two-for-one shares.

The bonus issuance, aimed at increasing shareholder participation, increased the company’s outstanding shares from 6.0 billion to 18 billion, adding 12 billion new shares. This meant that for each existing share, shareholders received two additional shares, bringing their total holdings to three shares for every initial share owned.

Group Chief Executive Officer, United Capital Plc, Mr. Peter Ashade, stated, “We have demonstrated strong dividend growth over the years. The 44% increase in gross payouts from N10 billion in 2023 to N14.4 billion is a further confirmation of our commitment to shareholders’ value.”

Ashade highlighted that United Capital’s dividend payouts have significantly jumped by 860% over the past 10 years, from 25 Kobo in 2014 to N2.40 by 2024. He attributed the company’s performance to improved efficiency in cost management, with total expenses dropping by 45.51% while total expenses-to-gross earnings declined significantly by 63.26% in 2024.

“As we proceed into the 2025 financial year, we remain committed to rewarding our shareholders while sustaining this remarkable performance. We are poised to lead the Nigerian capital market and unlock new opportunities on the African continent,” Ashade said

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