United Capital Declares N9 Billion Dividend Payout for 2024, Reflecting Strong Financial Performance
United Capital Plc, a leading pan-African investment bank and financial services group, has announced a substantial dividend payout of N9 billion to its shareholders for the 2024 financial year. This impressive return for investors reflects the company’s robust financial performance, marked by significant growth in key metrics and a series of successful strategic initiatives. The dividend, amounting to N0.50 per share, is set to be disbursed on Friday, following approval at the company’s Annual General Meeting. This payment represents the final dividend for the year, supplementing an earlier interim dividend of N0.90 per share and a bonus share issuance of two shares for every one held. The eligibility for this dividend payout is restricted to shareholders whose names appear on the company’s register as of March 14, 2025.
The remarkable dividend announcement comes on the heels of United Capital’s stellar financial results for 2024. The group recorded a 74% surge in profit before tax, reaching N30.10 billion, and an even more impressive 111% leap in profit after tax, totaling N24.10 billion. This robust profitability was fueled by substantial growth in total assets, which expanded by 83% to N1.70 trillion, and a 47% increase in shareholders’ funds, reaching N133.50 billion. These figures underscore the company’s effective management and strategic positioning within the financial services landscape.
Commenting on the group’s outstanding performance, Group Chief Executive Officer, Mr. Peter Ashade, expressed pride in the company’s achievements despite a challenging operating environment. He highlighted the company’s market leadership and unwavering commitment to shareholder value creation. This sentiment was echoed by Board Chairman, Professor Chika Mordi, who emphasized the group’s commitment to sustainable growth and shared prosperity. He reiterated the focus on robust governance frameworks to protect investor assets and ensure sustained value delivery for all stakeholders.
United Capital’s success in 2024 can be attributed to its leadership in executing significant transactions within the financial market. Notably, the company played a key role in the Federal Government of Nigeria’s domestic US dollar bond issuance. It also facilitated the N1.8 trillion listing of Transcorp Power on the Nigerian Exchange, a landmark transaction that underscores the company’s expertise in capital market operations. Furthermore, United Capital’s fund management arm experienced significant growth, exceeding N2 trillion in assets under management. These achievements have solidified the group’s reputation as a market leader and have been acknowledged through numerous prestigious industry awards across its diverse business lines.
Beyond the core business operations, United Capital’s Infrastructure Fund also announced a substantial dividend distribution of N1.98 billion to its unitholders for the year 2024. This dedicated infrastructure fund, licensed by the Securities and Exchange Commission, boasts a total fund size of N150 billion. Its focus is on financing and supporting critical infrastructure projects within Nigeria and the broader Sub-Saharan African region. The fund’s dividend distribution underscores its successful investment strategy and its contribution to infrastructure development.
In summary, United Capital’s N9 billion dividend payout reflects a year of exceptional financial performance, driven by strategic initiatives, market leadership, and a commitment to shareholder value. The company’s robust growth across key metrics, combined with its involvement in significant transactions, has cemented its position as a dominant player in the pan-African financial services industry. The dividend announcement, coupled with the strong performance of the infrastructure fund, reinforces United Capital’s commitment to delivering superior returns for investors and contributing to the economic development of the region. The company’s focus on robust governance and sustainable growth positions it well for continued success in the future.
