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United Bank of Africa (UBA) will be paying its shareholders a dividend of N3 for every share of 50 kobo as its after-tax profit rose by 26 percent to N766.5 billion for the financial year ended 2024.
This is an increase compared to the interim dividend of ₦2.30 per share that was declared in 2023.
The bank announced in a corporate disclosure on Nigeria Exchange Group that the directors of the company proposed a final dividend of N3.00 per ordinary share of 50 kobo each, (bringing the total dividend for the financial year ended December 31, 2024, to N5.00)
This dividend, according to UBA, will be paid to shareholders whose names appear in the register of members as of the close of business on Friday, April 11, 2025, and who have completed the e-dividend registration and mandated the registrar to pay their dividends directly into their Bank accounts.
“The Bank’s Register of Members will be closed on Monday, April 14, 2025,” the statement said.
Read also: UBA to highlight women’s roles in nation-building at business series
The holding company said that dividends will be paid electronically to shareholders whose names appear on the Register of Members as of when due, on Friday, April 25, 2025.
Shareholders are also expected to have completed the e-dividend registration and mandated the Registrar to pay their dividends directly into their bank accounts.
According to the bank’s financial result, the bank crossed a N1 trillion net interest income cap in 2024 compared to N707 billion reported in 2023.
Its pre-tax profit rose to N803 billion from N757 reported in 2023.
As of December 2024, the Group’s Total Assets increased N26.9 trillion up from N18.6 trillion at the end of the 2023 financial year. Customer deposits also increased to N21 trillion growing by 41 percent from N14.8 trillion.
The Group’s Shareholders’ Funds remained robust at N3.4 trillion up from N2 trillion in December 2023, reflecting its strong capacity for internal capital generation.
