United Capital approves N4.2bn dividend for shareholders

By Kayode Tokede

The Board of Directors of United Capital Plc, Nigeria’s financial and investment services powerhouse, has announced the payment of a total N4.2 billion as dividend to shareholders for 2020. The resolution was made at the Board meeting which held on Wednesday 17, 2021.

This information was contained in a notification dated 18 February 2021, which was signed by the Company’s Director Peter Ashade, and sent to the floor of the Nigerian Stock Exchange.

According to the notification, the dividend declared by United Capital on a per-share basis was pegged at 70 kobo per share, this put the total dividend to be paid to shareholders at N4,200,000,000.

The dividend declared for 2020 is 40per cent higher when compared to the total dividend of 50 kobo per share paid by the company to its shareholders last year for 2019.

It is important to note that the dividend declared is subject to appropriate withholding tax and the approval of shareholders at the Company’s next Annual General Meeting.

The dividend will be paid to only shareholders whose names appear in the Register of Members as at the close of business on Friday, March 5, 2021.

However, with a share price of N5.98 per share at the close of trading activities yesterday on the floor of NSE, the dividend yield of the company stands at 11.7per cent.

The audited account of United Capitals is expected to be published on or before Monday, February 22, 2021, on the website of the Nigerian Stock Exchange. This is in line with the option by the Company to submit its audited accounts within 60 days of the year-end.