United Capital declares 44.13 per cent increase in profit to N11.25bn
…Approves dividend of N1.50k for shareholders
By Philemon Adedeji
United Capital PLC has reported 44.13 per cent increase in profit for audited full year result and accounts for the period ended as at December, 31st 2021.
The group on the Nigerian exchange limited (NGX) reported 49.9 per cent increase in profit for operating profit before income tax from N7.94 billion in twelve months of 2020 to N12.12 billion in twelve months of 2021.
According to the result of net operating income reported, it revealed that profit rose by 30.07 per cent from N12.4 billion in twelve months of 2020 to N16.2 billion in twelve months of 2021.
From the profit and loss figures, the total revenue generated reported by the group shows an increase of 40.32 per cent from N12.87 billion in twelve months of 2020 to N18.06 billion in twelve months of 2o.6 per cent.
The group also declared total expenses which moved from N5.94 billion in twelve months of 2020 to N4.92 per cent in twelve months of 2021,the total expenses showed an increase of 20.6 per cent.
Earnings per share for the period is appreciated by 44.6 per cent from N188 in twelve months of 2020 to N130 in twelve months of 2021.
Also, United Capital Plc (UCAP) proposed an interim dividend of N1.50 kobo per 50 kobo ordinary share for the full year ended December 2021.
The proposed dividend is subject to appropriate withholding tax, with a qualification date of March 8, 2022.
On Wednesday, March 23, 2022, the dividend which amounts to N9.00 billion will be disbursed electronically to ordinary shareholders whose names appear on the Register of Members as at Tuesday, March 8, 2022, and who have completed the e-dividend registration and mandated their Registrar to pay their dividends directly into their bank accounts.
The company’s registrar is Africa Prudential Plc and the e-dividend mandate form can be downloaded or filled online on the registrar’s website.
United Capital Plc has 6,000,000,000 outstanding shares and a market capitalization of N81.00 billion as at the time of filing this report. The company’s shares opened trading on 22nd of February, 2022 at N13.20 per share and closed at N13.50 per share.
