Dipo Olowookere
By Dipo Olowookere
Despite operating in a tough environment in the 2020 financial year, United Capital managed to deliver impressive returns to its shareholders.
On March 26, 2020, shareholders of the company will have 70 kobo dividends paid to their bank accounts after approval at the Annual General Meeting (AGM) fixed for Lagoon Restaurant on Victoria Island, Lagos on Tuesday, March 23, 2021, at 10.00am.
The cash reward is specifically for shareholders whose names appear on the register of members as of March 5, 2021, and who have completed the e-dividend registration and mandated the registrar to pay their dividends directly into their bank accounts.
Business Post reports that the total amount of dividends to be shared this year to investors stands at N4.2 billion.
In the 2020 accounting year, United Capital grew its total revenue by 50 per cent to N12.9 billion from N8.6 billion in 2019 on the back of a 77 per cent year-on-year growth in fee and commission income, 42 per cent increase in investment income and 453 per cent rise in net trading income.
The firm, which increased its earnings per share (EPS) to N1.30 from 83 kobo in a period of 12 months, said it spent N4.93 billion running the business in 2020, higher than N3.64 billion used in 2019.
However, it was able to increase its profit before tax by 61 per cent to N8.0 billion last year from N5.0 billion a year earlier, while the profit after tax improved by 57 per cent to N7.8 billion from N5.0 billion, with the total assets growing by 48 per cent year-on-year on the back of a significant 54 per cent push in financial assets investment and a 44 per cent growth in the cash and cash equivalents line.
“I am pleased to inform all stakeholders that United Capital Plc delivered impressive returns amid the unprecedented environment worsened by the pandemic during the 2020 financial year with remarkable double-digit growth in revenue, PBT and PAT and solid performance across key business parameters.
“This empowers us to adopt a more positive outlook for the year 2021 as we navigate the tough terrain compounded by a second wave of the COVID-19 pandemic among other severe economic challenges,” the CEO of United Capital, Mr Peter Ashade, said.
He further said, “Despite the tough operating environment, all stakeholder groups can be assured of our commitment to providing best-in-class solutions to diverse client segments and delivering superior returns to shareholders even as we work with regulatory authorities to strengthen the broader financial system as the domestic economy continues on the path to recovery in the year 2021.”
