Following the release of its remarkable audited financial results for 2020, foremost Pan-African financial services conglomerate, United Capital Plc, has disclosed that its shareholders are to receive N4.2billion dividend payout.
This was said in the Annual General Meeting held at Lagoon Restaurant, Victoria Island, Lagos
At the Annual General Meeting, which was held by proxy due to the COVID-19 pandemic, the Company presented its financial performance for 2020 which showed a recorded revenue of N12.87Billion, N7.95Billion in Profit Before Tax and earnings per share of 130 Kobo.
Shareholders in attendance commended the company for its transparency in the published financial statements and its adherence to legal and ethical requirements as corroborated by the company’s auditors who were also present.
The Chairman of the Board of Directors, Mr. Chika Mordi, in his statement to shareholders, noted that “Despite the macroeconomic pressure, United Capital Plc reported an outstanding financial performance in 2020.
"Total revenue was up 50% year on year to N12.87billion in 2020, from N8.59 billion earned in 2019. Profit Before Tax grew to N7.95billion in 2020, up 61% from N4.95billion in 2019, signifying solid growth in the overall profitability of the Group. The Group's Return on Average Equity for the 2020 financial year stood at 35%, one of the highest among listed financial services institutions, highlighting strong value creation for our shareholders.”