UBA to pay N11.97bn as final dividend for 2020

The Board of United Bank for Africa Plc (UBA), said it plans to pay out the sum of N11.97 billion as the final dividend to shareholders for the period ended 31st of December 2020.

This is according to a notice signed by the company’s secretary, Bili Odum. According to the notice, the approval of this proposed dividend at the Annual General Meeting scheduled for April 1, 2021 will see the company pay out a final dividend of N0.35 kobo for each of the outstanding 34,199,421,368 ordinary shares of the company, held by its shareholders.

Despite posting double-digit growth in key financial indices such as Profit After Tax PAT, of N113.8 billion, UBA Plc proposed a lower dividend, compared to a sum of N0.80 declared last year, indicating a decline of 56.25% from the previous year.

But the Bank had earlier paid an interim dividend of N0.17 kobo, thereby raising its total dividend for the year to N0.52 kobo. UBA Plc had earlier released its audited 2020 results showing a Profit After Tax of N113.77 billion. Other key financial indices also recorded double-digit growth within the financial period under review; Profit Before Tax PBT, rose by 18.5%, Earning Per Share grew by 27% while return on investment, R.O.E increased by15.7%. UBA shares closed at N8 on 8th March 2021.