By Chinwendu Obienyi

United Capital Plc (UCAP) has assured its shareholders that it will look at strategic ways to sustain and improve on its financial performance in 2022.

This was even as its shareholders commended the group and approved the proposed total dividend payout of N9 billion, translating to N1.50 per share for full year 2021, 114 per cent higher than what it paid for 2020.

Speaking during the group’s Annual General Meeting (AGM) which held virtually on Wednesday, the President, New Dimension Shareholders Association, Patrick Ajudua, described UCAP’s 2021 financial results as wonderful and astounding performance from the management, noting that with a dividend payout of over 114 per cent to shareholders, it is noteworthy to commend the board for that.

 He however, urged the company to come up with important strategies to sustain the organisation’s growth in view of the CBN’s decision to maintain the status quo on all parameters, economic difficulty and FX challenges.

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Also speaking at the occasion, National Coordinator, Progressive Shareholders Association of Nigeria (PSAN), Boniface Okezie, commended the management for achieving a profit of N11.26 billion with shareholders’ funds rising by 25 per cent to N30.55 billion from N24.43 billion recorded in 2020 despite the macroeconomic challenges in the country.

Okezie said, “Despite the macroeconomic pressure, the company delivered N1.50 as dividend to its shareholders, that’s quite commendable and it is quite pleasing because the company is competing with its regulators as they have become operators. I strongly believe that by next year if the company improves on its objectives and the SEC stops competing with the company, the dividend payable for the next financial year can increase”.

Responding, the Group Chief Executive Officer, UCAP, Peter Ashade, said, every decision made by the group will be driven by desire to increase wealth of shareholders.

He revealed that the company has looked at strategies and how it can sustain the growth while adding that UCAP is set for another 3 year strategic plan.