Economy
UBA Excites Shareholders With Increase in FY 2021 Dividend
By Dipo Olowookere
Shareholders of United Bank for Africa (UBA) Plc have something sweet to savour as the board has increased the dividend payout for the 2021 financial year.
In a notice filed with the Nigerian Exchange (NGX) Limited on Friday, the lender said it would pay 80 kobo as a final dividend for the accounting period, higher than the 35 kobo it paid the preceding year.
If this is approved by the shareholders at the Annual General Meeting (AGM) fixed for April 7, 2022, at the Congress Hall, Transcorp Hilton Hotel, Abuja by 10.00 am, with the 20 kobo interim dividend earlier paid last year, the total cash reward would be N1, amounting to a payout ratio of 29 per cent versus 16 per cent in FY 2020 and a yield of 12.4 per cent.
Business Post reports that the dividend would be paid on the AGM day only to those whose names appear in the register of members as at the close of business on Friday, March 18, 2022, and have authorised the registrar to pay their dividends directly into their bank accounts.
Meanwhile, in FY 2021, UBA declared a profit before tax of N153.1 billion compared with the N127.3 billion achieved a year earlier, while the profit after tax grew to N118.7 billion from N109.2 billion, with the earnings per share (EPS) rising to N3.39 from N3.10.
In the results, the financial institution said it generated N474.3 billion as interest income, higher than the N427.9 billion it generated 12 months earlier, while the interest expense shrank to N157.6 billion from N168.4 billion, leaving the company with a net interest income of N316.7 billion in contrast to the N259.5 billion achieved in 2020.
Also, UBA said it closed December 31, 2021, with N303.9 billion as net interest income after impairment on financial and non-financial instruments, higher than the N232.5 billion reported a year earlier.
In the period under review, the company generated N158.7 billion as fees and commission income, higher than N126.9 billion it posted in the previous accounting year, while the fees and commission expense rose to N57.8 billion from N44.3 billion in FY 2020. However, the net fee and commission income closed higher at N100.9 billion as against N82.6 billion of the preceding reporting year.
It was observed that UBA recorded a lower income from net trading and foreign exchange as this stood at N16.4 billion in contrast to N54.9 billion a year ago, while other operating income rose to N9.0 billion from N6.1 billion.
The results also showed that employee benefits expenses gulped N93.2 billion versus N87.6 billion in FY 2020, while other operating costs increased to N163.0 billion from N142.3 billion.
In the year, UBA expanded its deposits from customers to N6.4 trillion from N5.7 trillion, while loans and advances to customers rose to N2.7 trillion from N2.6 trillion.
Economy
NGX Group’s 65th Annual General Meeting Holds April 29
By Aduragbemi Omiyale
The 65th Annual General Meeting (AGM) of the Nigerian Exchange (NGX) Group Plc has been fixed for Wednesday, April 29, 2026, at 11:00 am at its corporate head office on 2–4 Customs Street, Lagos.
Business Post gathered that the meeting would be streamed live on the company’s website and social media platforms to enable broader participation by shareholders and stakeholders unable to attend physically.
As part of a special business, shareholders will consider a proposed bonus issue of one new ordinary share for every three existing shares held as at the close of business on April 10, 2026, subject to regulatory approvals.
The proposal also includes an increase in the organisation’s share capital from N1,102,309,954 to N1,469,746,605, to accommodate the bonus shares and amendments to the Memorandum of Association to reflect the new capital structure.
Also at the gathering, shareholders will consider and, if deemed fit, approve the company’s audited financial statements for the year ended December 31, 2025, alongside the reports of the directors, auditors, board evaluation consultants, and audit committee.
The meeting will also deliberate on the declaration of a final dividend and the re-election of three non-executive directors retiring by rotation, who are Mr Umaru Kwairanga, Mrs Ojinika Olaghere, and Dr Okechukwu Itanyi.
Other ordinary business items on the agenda include authorising the board to fix the remuneration of the external auditors, determining the remuneration of managers, and electing members of the statutory audit committee.
Economy
BNB Price Reflects Changing Dynamics in the Digital Asset Market
Economy
NASD Unlisted Security Index Crosses 4,000-point Benchmark Again
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange achieved a milestone on Friday, April 24, 2026, after five securities on the platform helped with a 1.85 per cent growth.
Data showed that the NASD Unlisted Security Index (NSI) again crossed the 4,000-point benchmark yesterday.
The index chalked up 73.64 points during the trading day to close at 4,052.59 points compared with the preceding session’s 3,978.95 points, while the market capitalisation added N5.38 billion to finish at N2.424 trillion versus Thursday’s closing value of N2.380 trillion.
The price gainers were led by Okitipupa Plc, which grew by N25.00 to sell at N305.00 per share compared with the previous price of N280.00 per share. Central Securities Clearing System (CSCS) Plc gained N6.92 to close at N76.26 per unit versus N69.34 per unit, Afriland Properties Plc appreciated by N1.00 to N17.00 per share from N18.00 per share, FrieslandCampina Wamco Nigeria Plc improved by 55 Kobo to N99.55 per unit from N99.00 per unit, and Food Concepts Plc increased by 5 Kobo to N2.70 per share from N2.65 per share.
However, there was a price loser, MRS Oil, which dipped by N21.75 to N195.75 per unit from N217.50 per unit.
During the final session of the week, the value of securities jumped 75.2 per cent to N41.3 million from N23.6 million units, and the number of deals expanded by 62.9 per cent to 44 deals from 27 deals, while the volume of securities declined marginally by 0.9 per cent to 447,403 units from 451,522 units.
At the close of trades, Great Nigeria Insurance (GNI) Plc was the most traded stock by volume (year-to-date) with 3.4 billion units worth N8.4 billion, trailed by Resourcery Plc with 1.1 billion units valued at N415.7 million, and Infrastructure Guarantee Credit Plc with 400 million units traded for N1.2 billion.
GNI was also the most active stock by value (year-to-date) with 3.4 billion units sold for N8.4 billion, followed by CSCS Plc with 59.6 million units transacted for N4.0 billion, and Okitipupa Plc with 27.8 million units exchanged for N1.9 billion.
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