Shareholders of United Capital Plc has approved a total dividend payout of N14.4 billion for the 2024 financial year, representing 33% increase from the previous year.
Speaking at the company’s 12th Annual General Meeting (AGM) held at the Transcorp Hilton Hotel, Abuja, Prof. Chika Mordi, Chairman, United Capital Plc, highlighted the company’s outstanding financial performance despite macroeconomic challenges.
“In 2024, our Profit Before Tax (PBT) accelerated by 74.0% year-on-year to N30.10 billion in 2024, indicating impressive growth in the overall profitability of the Group. In terms of our financial position, the Total Assets of the Group appreciated by 82.6% year-on-year to N1.7 trillion. Prof. Mordi reassured investors of the company’s commitment to sustaining this momentum, stating that United Capital remains well-positioned to deliver even greater returns in the coming years.
The declaration of a final dividend of N0.50 per share, complementing the interim dividend of N0.90 per share distributed within the financial year, received unanimous shareholder endorsement. Investors commended the company’s consistent delivery of strong returns, spotlighting the previously declared 2-for-1 bonus share issuance that significantly enhanced their equity positions. This robust shareholder value creation is reflected in the 47% growth of Shareholders’ Funds to N133.50 billion
Peter Ashade, Group CEO, United Capital Plc, attributed the company’s continued success to strategic execution, operational excellence, and the dedication of its leadership team and employees.
“We remained committed in our mission to create sustainable value for our stakeholders despite a volatile operating environment. Our market capitalization surged by 200% to N396 billion, while our Return on Average Equity (RoAE) stood at 21.5%, underscoring the wealth creation and business stability we have achieved,” he said. Looking ahead, Ashade reaffirmed United Capital’s commitment to sustaining its growth trajectory and delivering superior performance in 2025. “Our focus remains on expanding our market leadership, enhancing innovation, and driving long-term value creation.”
Following a profitable year with the firm leading key transactions, expanding into digital banking, consumer finance and recording impressive growth in funds under management, the Group is determined to solidify its position as a high-performing, sustainable financial services group, with key strategic expansion into new markets and sectors, setting new standards of excellence in Africa’s financial landscape.
