Audrey Lotechukwu
WED, APRIL 29 2020-theG&BJournal- UBA Plc, Africa’s Global Bank, has announced handsome dividend payout to shareholders following a historic virtual Annual General Meeting (AGM) Wednesday, which saw over 270, 000 shareholders in attendance. It was the Bank’s 58th AGM.
The Bank increased dividends by 20% to a total of N1 per every 50k share for the financial year ended December 31, 2019, despite the uncertain times, and paid N27.359 billion to 300, 000 shareholders.
‘We are happy we fulfilled our promise to the shareholders,’’ Tony Elumelu, Group Chairman of the Bank said in a post on his twitter page.
Elumelu also thanked ‘’the shareholders, staff and customers for all their support.
‘’We will continue to serve your interest as we all battle this pandemic together,’’ he said.
The Group Managing Director Kennedy Uzoka, alluding the conduct of the virtual AGM, assured shareholders and customers as well that the Bank ”will take banking to how, when and where our customers want it.”
And as it relates to the COVID-19 pandemic, Uzoka said ”we will continously drive our business to the point where customers will no longer meet us physically.” He added that banking will remain, ”but how we do it will keep changing.”
The Bank last week posted its first-quarter 2020 earnings report which topped analyst estimates. Profit after tax rose 5% to N30.101 billion from N28.09 billion reported in Q1 2019. Profit before Tax increased 8% from 30-1 billion Q1 2019 to N32.7 billion while net interest income surged 12.6% to N65.417 billion from N58.075 billion reported in Q1 2019.
The Bank’s shares was top-traded at the close of the market today with 52,768,847 in volume and N318,435,009.50 in value. Share price closed at N6, 0.1% up.
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