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Companies

United Capital earmarks total dividend of N4.2 billion for shareholders

United Capital Plc announced a payment of a total of N4.2 billion as dividend to shareholders for 2020.

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Commercial paper, United Capital Asset Management explains mutual funds’ positive performance

The Board of Directors of United Capital Plc, Nigeria’s financial and investment services powerhouse, has announced the payment of a total N4.2 billion as dividend to shareholders for 2020. The resolution was made at the Board meeting which held on Wednesday 17, 2021.

This information was contained in a notification dated 18 February 2021, which was signed by the Company’s Director Peter Ashade, and sent to the floor of the Nigerian Stock Exchange.

According to the notification, the dividend declared by United Capital on a per-share basis was pegged at 70 kobo per share, this put the total dividend to be paid to shareholders at N4,200,000,000.

READ: 6 Questions to consider when evaluating a job offer

What you should know

  • The dividend declared for 2020 is 40% higher when compared to the total dividend of 50 kobo per share paid by the company to its shareholders last year for 2019.
  • It is important to note that the dividend declared is subject to appropriate withholding tax and the approval of shareholders at the Company’s next Annual General Meeting.
  • The dividend will be paid to only shareholders whose names appear in the Register of Members as at the close of business on Friday, March 5, 2021.
  • However, with a share price of N5.98 per share at the close of trading activities yesterday on the floor of NSE, the dividend yield of the company stands at 11.7%.

READ: Why Nigerian stocks are getting pummeled

What to Expect: The Audited Accounts of United Capitals Plc will be published on or before Monday, February 22, 2021, on the website of the Nigerian Stock Exchange. This is in line with the option by the Company to submit its audited accounts within 60 days of the year-end.

Omokolade Ajayi is a graduate of Economics, and a certificate holder of the CFA Institute’s Investment Foundation Program. He is a business analyst, and equity market researcher, with wealth of experience as a retail investor. He is a business owner and a stern advocate of Financial literacy, who believes in the huge economic prospect of the Nigerian Payment channels and Fintech space.

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Companies

Africa Prudential Plc declares N1 billion dividend for shareholders

The Board of Directors of Africa Prudential Plc has proposed the payment of N1 billion as dividend to qualifying shareholders.

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Obong Idiong, Africa Prudential Plc

The Board of Directors of Africa Prudential Plc, Nigeria’s leading registrar and a key player in the capital market, has proposed the payment of N1 billion as dividend to qualifying shareholders of the company.

This is in line with the resolution made at the Company’s Board meeting which held on Thursday, February 18, 2021, as the Board resolved to pay a dividend of 50 Kobo per ordinary share, amounting to N1,0000,000,000 (One billion Naira only).

It is essential to understand that the dividend recommended by AfriPrud’s Board is subject to appropriate Withholding Tax, and the approval of shareholders at the Company’s Annual General Meeting.

What you should know

  • The dividend recommended by the board of AfriPrud in 2020 is 28.57% lower when compared to the total dividend of 70 kobo per share paid to shareholders last year for 2019.
  • It is important to note that the dividend declared is subject to appropriate withholding tax and the approval of shareholders at the Company’s next Annual General Meeting.
  • However, with a share price of N7.3 per share at the close of trading activities on the floor of NSE for last week, the dividend yield of the company stands at 6.85%.

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Companies

Ecobank Group Posts N630 billion Revenue in 2020

Ecobank Group has recorded a revenue of over N630 billion for the year ended December 31, 2020.

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Ecobank Transnational's 32nd AGM

Ecobank Group has recorded a revenue of over N630 billion for the year ended December 31, 2020. This represents a 7% growth when compared to N586.9 posted in the corresponding period of 2019.

In its unaudited report submitted to the Nigeria Stock Exchange (NSE) on Friday, the pan-African bank stated that value of its total assets now stands at N10.2 trillion after a 19% rise.

The bank also recorded superlative performance in other key financial indices despite the harsh operating environment.

READ: Investors get burnt, lose $1.6 billion in crypto within a day

Summary of the report showed that Deposits from customers went up 23% to N7.3 trillion; Total equity up 17% to N805.1 billion; while Loans and advances to customers grew by 9% to N3.7 trillion.

However, despite the bank’s good showing in deposits from customers and revenue, profits was impacted by the provisioning for goodwill for the acquisition of Oceanic Bank in 2011. Consequently, the bank ended with profit after tax of N35.9 billion, while profit before tax and goodwill impairment closed at N126.4 billion.

READ: Nigeria generates N1.53 trillion VAT in 2020, grows by 29%

The Ecobank Group had stated that it is optimistic that with clean book aftermath of the full provisioning for Oceanic Bank, it will improve on its profitability in 2021 and other years ahead.

Deal book 300 x 250

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