By Chinwendu Obienyi
Shareholders of United Capital Plc (UCAP) have cause to smile as the company recently announced a 25 per cent year-on-year (y-o-y) increase in monies invested in the company for the year ended December 31, 2021.
The investment bank and financial services group in its Audited Financial Statements (AFS) which was filed to the Nigerian Exchange Limited (NGX) at the weekend, stated that its gross earnings was up 40 per cent y-o-y from N12.87 billion recorded in FY 2020 to N18.07 billion in 2021 while its operating profit before tax (PBT) grew 53 per cent y-o-y from N7.95 billion in 2020 to N12.12 billion.
The company’s profit after tax (PAT) rose by 44 per cent to N11.26 billion from N7.81 billion in the corresponding period of 2020, while shareholders’ funds rose by 25 per cent to N30.55 billion from N24.43 billion recorded in 2020.
Furthermore, the firm proposed a 114 per cent increase in dividend to N1.50 for every 50 kobo ordinary share. Commenting on the company’s results, Chairman, Board of Directors at UCAP, Professor Chika Mordi, said, “We are proposing N1.50 dividend for every 50 kobo ordinary share, up 114 per cent over the 70 kobo dividend paid last year. This affirms our commitment to wealth creation for our shareholders”.
Commenting on the Group’s performance, the Group Chief Executive Officer, Peter Ashade, said that the group’s strong performance was driven by exponential growth in business activities across all the market segments that it serves while adding that this happened when it successfully navigated a volatile operating environment to create best-in-class solutions for its clients.
Ashade said, “United Capital is on a progressive path as witnessed in our strong earnings growth, and superior value delivery to shareholders over the years, among other metrics that are reflective of high performing organisations.
All stakeholders can be assured of our commitment to sustain our organizational growth trajectory well into the foreseeable future as we navigate the tough operating terrain.
We will continue to pursue developmental activities and actively engage regulatory authorities, investors, and relevant stakeholder groups towards deepening the capital market, strengthening the broader financial system, and driving financial inclusion as a means of accelerating the economic development of our dear country and empowering its citizens.”
With its aim of transforming the African continent by providing innovative and creative investment banking solutions to governments, companies, and individuals, the group, listed on the NGX is at the forefront of becoming the financial and investment role model across Africa by leveraging on innovation, technology, and specialist skills to exceed client expectations, while creating more value for all stakeholders.