MON SEPT 30 2024-theGBJournal| UBA Plc’s Director has propose an interim dividend of N2.00 per share (30 June 2023: N0.50 per share) from the retained earnings account as at 30 June 2024.
This proposed interim dividend amounting to a pay-out ratio of 7.3% (30 June 2023: 2.9%), and a yield of 8.9%.
Meanwhile, UBA experienced robust trading activity in HY 2024, with 4.21 billion shares exchanged, representing 12.0% of the shares outstanding.
The NGX All-Share Index closed at a record high of 100,057.49 points during the period, representing a substantial 33.81% year-to-date (YtD) gain from its opening position of 74,773.85 points.
Market capitalization likewise witnessed a notable surge, closing at N56.60 trillion, signifying a 38.32% expansion from N40.92 trillion at the end of 2023. UBA concluded half year at N22.45 per share translating to a -12.5% YTD decrease.
According to the bank’s Register of Shareholders as at 30 June, 2024, no shareholder held more than 5% of the share capital of the Bank except Heirs Holdings Limited with 1,814,003,900 or 5.30% in total.
The Bank also did not purchase its own shares during the year, according to its record, following a Board approved Global Personal Investment Policy, which covers directors, staff, and related parties.
The policy prohibits employees, directors and related individuals/ companies from insider dealings on the shares of UBA Plc and related parties.
”The essence of the policy is to prevent the abuse of confidential non-public information that may be gained during the execution of UBA’s business,” the bank’s management noted.
”In addition, the policy serves to ensure compliance with the local laws and/or regulatory requirements.”
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