For the year 2024, United Capital Plc (UCAP) attained Profit After Tax (PAT) of N24.10billion, compared to N11.42 billion recorded in 2023, representing 111.03 per cent increase.
Building on a decade of consistent dividend payments, United Capital achieved a significant milestone in 2024 by introducing its inaugural interim dividend of 90 Kobo per share.
United Capital also executed a 2-for-1 bonus share issuance in 2024, a strategic move to increase shareholder participation.
This action increased the total number of outstanding shares from 6 billion to 18 billion, adding 12 billion new shares.
This means that for each existing share, shareholders received two additional shares, bringing their total holdings to three shares for every initial share owned
A statement explained that United Capital Plc continues to deliver value to its shareholders, proposing a final dividend of 50 Kobo per share for the 2024 financial year.
This brings the company’s total dividend distribution for the year to N2.40 Kobo.
In 2024, the company distributed N14.4 billion in dividends, reflecting a substantial 44 per cent increase over the previous year’s N10.0 billion.
Looking at the long-term, United Capital’s dividend payouts have skyrocketed by 860% in the last 10 years, moving from 25 Kobo to N2.40.
United Capital’s Dividend.
Key Highlights to the Financials:
• Gross earnings rose by 82.50% due to income from loans, dividend income from securities investments, interest from placements and bonds, showcasing active trading strategy of the Company.
• Fee and commission income surged by 80.18% emanating from financial advisory fees and other fees and commissions, confirming industry leadership of the Company.
• Net trading income increased by 61.17% arising from gains from sale of financial instruments.
• Net gain on financial assets at fair value through profit and loss grew by 18.77%, reinforcing the Company’s commitment to growing its assets.
Efficiency in Cost Management:
• Total expenses dropped by 45.51%, showing the Company’s ability to manage its expenses.
• Total expenses -to-gross earnings declined significantly by 63.26% compared to 36.20% drop in 2023.
Impressive Financial Position:
• Profit before income accelerated by 73.96% showing continuous increase in profitability.
• Profit for the year upsurge by a significant 111.06, delivering value to stakeholders.
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.
