…Announces final dividend of N78.66 Billion for year ended December 31, 2023
MON MAY 27 2024-theGBJournal| United Bank for Africa Plc, Africa’s Global Bank, has announced a final dividend of N78.66 Billion gross in respect of the year ended December 31, 2023, a decision revealed during it’s 62nd Annual General in Abuja on Friday.
The dividend is to be paid to all Shareholders whose names appeared in the Register of Members at the close of business on Friday, May 10, 2024.
Similarly at the AGM, the bank raised its Issued Share Capital from N17,099,710,683 to N22,500,000,000 while authorizing the Board of Directors to raise additional capital, part of move to meet the N500 minimum capital base requirement recently set for commercial banks by the Central Bank of Nigeria (CBN).
The capital raise is expected to be achieved through the issuance of securities comprising ordinary shares, preference shares, convertible and/or non- convertible notes, bonds, or any other instruments, in the Nigerian and/or International Capital Markets, either as a standalone issue(s) or by the establishment of capital raising programmes, among others.
During the AGM, the bank’s Chairman, Tony Elumelu assured that UBA’s recapitalization would be achieved without a public offer while highlighting the bank’s strategic robust performance.
He noted that the UBA Group delivered gross revenue of N2.08 trillion and profit after tax of N607.7 billion in FY-2023, growing total deposit by 100% from 9 trillion to 18 trillion.
According to Elumelu, ”Leveraging our African footprint and in a historic partnership with the African Continental Free Trade Area, UBA pledged up to 6 billion U.S. dollars in financing small and medium-scale enterprises across our 20 presence countries in Africa, in the next three years.
This is to empower our SMEs, the strong engine of growth for Africa’s development. This is a game-changing investment.”
UBA Group received nine prestigious awards at the Bankers Awards in 2023.
This award was organised by the Bankers Magazine, a publication of the Financial Times of London. The bank won the Bank of the Year Africa 2023 award.
UBA subsidiaries also emerged as the Bank of the Year in eight of the 20 countries
”This reaffirms our position as a leading financial institution on the African continent,” Elumelu said.
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