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Business News

United Capital Plc announces dividend payment for the financial year ended December 2019 

United Capital Plc has joined the list of companies which recently announced dividends for the 2019 financial year.

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United Capital, a Treasure in the Mire, United Capital Plc announces close period ahead of Q3 2019 results, United Capital Plc announces dividend payment for the financial year ended December 2019 , United Capital: The good and the bad

United Capital Plc has joined the list of companies which recently announced dividends for the 2019 financial year. On Tuesday, the company announced a dividend payout of N0.50 for every 50 kobo ordinary share.

In a public disclosure that was issued to the Nigerian Stock Exchange earlier, the company stated that the proposed dividend would be subject to appropriate withholding tax.

The company’s shareholders, whose names appear on the register of members latest by March 6th, 2020, should receive payment. The register of members will become closed starting from March 9th through to March 13th.

Latest by March 26th, shareholders, who have met all the necessary requirements, should be expecting their money transferred to their bank accounts electronically.

[READ MORE: Nigerian Breweries Plc announces dividend payout for 2019)

As always, only shareholders, who have completed their e-dividend registration, will be eligible to receive their dividend payment. Shareholders must also ensure to mandate the Registrar to pay their dividends into their bank accounts.

In the meantime, United Capital has advised shareholders, who have yet to complete their e-dividend registration, to do so immediately. They are to download the e-dividend activation form, fill it, and submit same to the registrar.

Shareholders can also contact the Registrar (I.e., Africa Prudential Plc) at 220 B Ikorodu Road, Palmgrove Lagos.

Note that United Capital Plc will hold its annual general meeting at Transcorp Hilton Hotel, Abuja, on the 24th of March, 2020.

Earlier this week, the finance and investment company also released its audited financial report for the period ended December 31st 2019. The report showed that gross earnings declined by 7.2% to N8.6 billion, down from N9.3 billion during the comparable period in 2018.

The company’s profit before income tax for the period stood at N4.9 billion compared to N6.2 billion in FY 2018. Profit after tax, however, increased to N4.9 billion, up from N4.3 billion.

Emmanuel is a professional writer and business journalist, with interests covering Banking & Finance, Mergers and Acquisitions, Corporate Profiles, Brand Communication, Fintech, and MSMEs.He initially joined Nairametrics as an all-round Business Analyst, but later began focusing on and covering the financial services sector. He has also held various leadership roles, including Senior Editor, QAQC Lead, and Deputy Managing Editor.Emmanuel holds an M.Sc in International Relations from the University of Ibadan, graduating with Distinction. He also graduated with a Second Class Honours (Upper Division) from the Department of Philosophy & Logic, University of Ibadan.If you have a scoop for him, you may contact him via his email- [email protected] You may also contact him through various social media platforms, preferably LinkedIn and Twitter.

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Corporate Press Releases

Asharami Energy’s graduate program targets future Upstream experts

Application for the program kicks off on Friday, 7th May 2021 and closes on Monday, 17th May 2021.

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Asharami Energy, a Sahara Group Upstream company, has commenced its 2021 Graduate Trainee Program that is geared towards enhancing the sustainability and future of the sector through training of exceptional young talent.

Henry Menkiti, Chief Operating Officer, Asharami Energy, said the widely sought-after program has been instrumental to the transformation of young engineers and others professionals into top talent across the value chain at Sahara Group. “At the heart of our operations lies unrivaled engineering expertise that is driven by innovation, responsible engineering, and an unwavering commitment to improvements aligned with global environmental, social and Corporate governance standards. The Graduate Trainee Program is for enthusiastic and future thinking individuals desirous of becoming future leaders in the oil and gas sector,” he said.

Ivie Imasogie-Adigun, Group Head, HR at Sahara Group said the program resonates with Sahara’s human capital transformation strategy aimed at building a leading, nimble and agile organisation for optimal performance.

Imasogie-Adigun said the program gives graduate trainees exposure to top-level responsibility early in their careers, with ample opportunity to hone their potential across the Upstream value chain. “Sahara’s Graduate Trainee Programs are deliberately innovative and disruptive as we are always ahead on the curve of making a difference. The program has over the years produced outstanding business leaders at Sahara and I enjoin graduates to apply for an opportunity to commence their journey towards excellence in the Upstream sector. ”

Application for the program kicks off on Friday, 7th May 2021 and closes on Monday, 17th May 2021. It is open to candidates with a Bachelor’s Degree in Engineering, Applied & Social Sciences with a minimum of Second-Class Honors (Upper Division) and NYSC discharge certificate. Applicants can follow Sahara Group on twitter and Instagram @iamsaharagroup for more information on the Graduate Trainee Programs.

Asharami Energy is one Africa’s leading independent Exploration and Production (E&P) Companies with a diverse portfolio of 8 (eight) oil and gas assets in prolific basins across Africa. Asharami Energy Limited and Sahara Energy Fields Holdings UK Limited are the entities at the forefront of Sahara’s upstream operations.

These assets are at various stages of development ranging from exploratory fields to mature producing fields with huge potential for positive returns.

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Economy & Politics

Nigeria needs urgent economic diversification – AfDB

The AfDB said that the diversification of the Nigerian economy had become important for it to respond favourably to the emerging challenges of the 21st century.

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AfDB, Lutoyilex Construct Ltd, fraud

The African Development Bank has stated that Nigeria, Africa’s largest economy, needs urgent economic diversification to move the country from a single income source (oil and minerals) towards multiple income sources.

This was disclosed by Prof. Oyelaran-Oyeyinka Oyebanji, Senior Special Adviser on Industrialisation at African Development Bank (AfDB), at the 22nd Founder’s Day Lecture of the Igbinedion University, the first private university in Edo state, on Monday.

What the AfDB said about diversification

“In pursuit of long-term recovery and sustainable development, Nigeria needs urgent economic diversification. Nothing is more poignantly demonstrative of the danger of over-reliance on a single or narrow range of commodities than the recent crash in oil price we saw in 2020 due to the COVID-19.

Economic diversification entails a shift away from a single income source (oil and minerals) toward multiple income sources from an increasing spectrum of sectors, products and markets,” he said.

In case you missed it

The International Monetary Fund (IMF) stated earlier this year that economic diversification was important to Nigeria and critical for her economic recovery.

They said the limited gains from inward-oriented policies in terms of creating jobs and improving living standards suggested that Nigeria needed to have a change of strategy. It was pointed out that in order to accommodate a growing number of young people entering the labour market, Nigeria would need to create at least 5 million new jobs each year over the next decade.

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