United Capital Plc (UCAP) has experienced a remarkable seven-year growth trajectory, culminating in an explosive surge in 2024 with its Profit After Tax (PAT) more than doubled, from N11.42 billion in 2023 to N24.10 billion in 2024, representing a substantial 111.03 percent increase.
Building on a decade of consistent dividend payments, United Capital achieved a significant milestone in 2024 by introducing its inaugural interim dividend of 90 Kobo per share, showcasing its exceptional financial performance
Additionally, the company executed a 2-for-1 bonus share issuance in 2024, a strategic move to increase shareholder participation.
This action increased the total number of outstanding shares from 6 billion to 18 billion, adding 12 billion new shares.
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This means that for each existing share, shareholders received two additional shares, bringing their total holdings to three shares for every initial share owned.
United Capital Plc continues to deliver value to its shareholders, proposing a final dividend of 50 Kobo per share for the 2024 financial year. This brings the company’s total dividend distribution for the year to N2.40 Kobo.
It demonstrates strong dividend growth. In 2024, the company distributed N14.4 billion in dividends, reflecting a substantial 44 percent increase over the previous year’s N10.0 billion.
Looking at the long-term, its dividend payouts have skyrocketed by 860 percent in the last 10 years, moving from 25 Kobo to N2.40.
Gross earnings rose by 82.50 percent due to income from loans, dividend income from securities investments, interest from placements and bonds, showcasing active trading strategy of the Company.
Fee and commission income surged by 80.18 percent emanating from financial advisory fees and other fees and commissions, confirming industry leadership of the Company.
The company’s Net trading income increased by 61.17 percent arising from gains from sale of financial instruments, while net gain on financial assets at fair value through profit and loss grew by 18.77 percent, reinforcing the Company’s commitment to growing its assets.
Total expenses dropped by 45.51 percent, showing the Company’s ability to manage its expenses, while Total expenses -to-gross earnings declined significantly by 63.26 percent compared to 36.20 percent drop in 2023.
Profit before income of the company accelerated by 73.96 percent showing continuous increase in profitability, just as Profit for the year upsurge by a significant 111.06 percent, delivering value to stakeholders.
The company reiterated it’s remain commitment to rewarding its shareholders while sustaining this remarkable performance, adding that it is poised to lead the Nigerian capital market and unlock new opportunities on the African continent.
and then