United Capital pays N9bn dividend

Pan-African investment bank and financial services group United Capital is set to pay a dividend worth N9 bn to shareholders on Friday (today) for the 2024 financial year.

According to its corporate filings with the Nigerian Exchange Limited, the shareholders will receive the dividend payout after its approval at its Annual General Meeting scheduled for the same day.

“The Board of Directors of United Capital proposed a final dividend of N0.50 per share, amounting to a total of N9 bn in dividends to be paid to shareholders,” read the earnings report of the company.

Only shareholders whose names are found on the register of members as of March 14, 2025, are eligible for the dividend payout.

The N0.50 is the final dividend for the year, as shareholders received an interim dividend payment of N0.90 kobo per share. This is in addition to a bonus issuance of two additional shares for every one share held.

In 2024, United Capital Group recorded a 74 per cent increase in Profit Before Tax to N30.10bn and a 111 per cent increase in Profit After Tax to N24.10bn. This growth was driven by an 83 per cent growth in total assets to N1.70tn and a 47 per cent growth in shareholders’ funds to N133.50bn.

Speaking on the Group’s impressive performance, the Group Chief Executive Officer, United Capital Plc, Mr Peter Ashade, said, “I am honoured to inform our stakeholders of the Group’s exceptional financial performance in 2024. Despite a challenging business environment, we achieved remarkable growth, reinforcing our market leadership and unwavering commitment to our shareholders.”

Board Chairman, Professor Chika Mordi, reinforced the Group’s commitment to sustainable growth, saying, “United Capital Group held true to its philosophy of creating shared prosperity by delivering record profitability and significant corporate actions. We will continue to strengthen governance frameworks across the Group to protect investors’ assets and sustain superior value delivery to our stakeholders well into the foreseeable future.”

The Group’s stellar performance in 2024 was bolstered by its leadership in executing landmark transactions, including the FGN Domestic US Dollar Bond issuance, the N1.8tn listing of Transcorp Power on the Nigerian Exchange and an increase in fund management totalling over N2tn in funds under management, among others. These achievements further cemented the Group’s reputation as a market leader, earning multiple prestigious industry awards across its business lines.

Meanwhile, the United Capital Infrastructure Fund has announced a total dividend distribution of N1.98bn to its unitholders for the year ended 2024.

United Capital Infrastructure Fund is a Securities and Exchange Commission-licensed N150bn closed-ended infrastructure fund designed to finance and support infrastructure and related projects in Nigeria and Sub-Saharan Africa.