The United Bank for Africa (UBA) has proposed a final dividend of N3.00 per action, compared to N2.30 per action declared in 2023.
This proposed final dividend and the provisional dividend of N2.00 per action paid in October 2024, carries the total dividend for the year to N5.00, which amounts to a payment ratio of 26.6 percent compared to 16.32 percent in 2023.
According to the Nigeria Stock Exchange (NGX) notice, the proposed dividend will be submitted to the shareholders for approval at the next annual general meeting and will subsequently be paid to retain tax at an appropriate rate, UBA said in his audited report.
In its audited report published in NGX, the Pan -African banking group increased profits by 26.14 percent year after year to N766,568 billion in 2024 from a total amount of N607.696 billion that the group recorded in the financial year 2023.
The net interest revenue of the UBA increased strongly to N1.530 billion, 116 percent year after year of N707.540 billion in the financial year 2023. The net fees and the income of the commission also increased drastically in the year.
According to its audited report, UBA generated N355 billion as a net rate and revenue per commission in 2024, an increase of approximately 88 percent above N189.059 billion achieved in 2023.
Profit before taxes reached N803,726 billion, six percent more year after year from N757,680 billion in 2023.
Fiscal expenses fell to N37.158 billion in 2024 compared to N149,984 billion that the company recorded in 2023. The net income of the left group in N766,568 billion, 26.14 percent year after year from N607.696 billion in 2023.
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