UBA proposes interim dividend in H1 2019

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Story by Olabode Jegede

The management of United Bank for Africa Plc (UBA) has proposed an interim dividend for its half year audited results, June 30, 2019.

In a statement on the Nigerian Stock Exchange (NSE) on Thursday, signed by the Group Company Secretary, Bili Odum, stated that the 2019 half year results and payment of  interim dividend, is subject to the approval of the Central Bank of Nigeria (CBN).

He added that the Exchange would be notified upon the receipt of the CBN approval of the proposed results and payment of an interim dividend.

So far, Zenith Bank plc and Guaranty Trust Bank plc (GTBank) have released audited result and accounts for the half year ended June 30, 2019 and have declared N0.30 interim dividend.

The Stock market still awaiting Fidelity Bank plc, Access Bank plc and Stanbic IBTC Holdings plc to release H1 2019 results to the Exchange.

It will be recall that UBA in its audited 2018 half year financial results, showed a strong growth across key performance metrics as well as a significant contribution from its African subsidiaries despite the challenging business environments in Nigeria and across key markets in Africa.

The bank’s profit before tax in the first half of the year 2018 posted N58.1 billion while profit after tax also improved to N43.8 billion, a 3.4 per cent growth compared to N42.3 billion achieved in the corresponding period of 2017.

UBA also reported strong growth in operating income at N168.5 billion, compared to N161.8 billion in the first half of 2017, an increase of 4.1 per cent.

In the first six months of the year of 2018, the Bank’s Total Assets grew 4.9 per cent to N4.27 trillion and Customer Deposits rose by 6.1 per cent to N2.90 trillion, compared to N2.73 trillion as at December 2017.

The bank has also rewarded 40 customers with N1.5 million each since the promo began in 2018 in its commitment in encouraging improved savings culture and in the process rewarding a smart savings mind set.

UBA Wise Savers promo is open to both new and existing customers of the bank who make a N10,000 monthly deposit into their savings accounts for three consecutive months before each draw date.

Alternatively, customers can make a one-time deposit of at least N30,000 to be saved for 90 days before each draw date. The promo will run till September 2019 and a total of 80 people will become millionaires

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