Cross section of United Capital Plc Board of Directors
United Capital Plc, a leading pan-African financial and investment services powerhouse, held its landmark 12th Annual General Meeting (AGM) at the Transcorp Hilton Hotel, Abuja, celebrating a year of bold achievements, strategic growth, and investor confidence. At the heart of the meeting was the approval of a generous N14.4 billion dividend payout for the 2024 financial year—marking a significant 33% increase from the previous year and reaffirming the Group’s unwavering commitment to shareholder value creation.
The event brought together shareholders, executives, and key stakeholders who reflected on the Group’s exceptional financial performance and discussed its bold strategic vision for the future. The atmosphere was one of celebration, as shareholders unanimously endorsed the dividend payout, which includes a final dividend of N0.50 per share, following an earlier interim dividend of N0.90 per share. This payout comes on the heels of a 2-for-1 bonus share issuance that further strengthened shareholder equity.
In his keynote address, Chairman of United Capital Plc, Prof. Chika Mordi, lauded the Group’s resilience and excellence in execution despite macroeconomic headwinds. “In 2024, our Profit Before Tax surged by an impressive 74.0% to N30.10 billion. Even more remarkable is our Total Assets, which soared by 82.6% year-on-year to N1.7 trillion,” Mordi revealed. “This performance is a testament to our strategic discipline and commitment to delivering long-term value.”
Shareholders were particularly impressed by the company’s continued upward trajectory. The Group’s Shareholders’ Funds rose by 47% to N133.50 billion, bolstered by sound financial decisions and innovative leadership.
Group CEO, Peter Ashade, echoed this optimism, crediting the Group’s success to focused strategy, operational efficiency, and a strong workforce. “Our Return on Average Equity stood at 21.5%, and market capitalization tripled to N396 billion. These figures reflect the strength and resilience of our business model,” he said. “We’re not just growing; we’re transforming Africa’s financial landscape through innovation and forward-thinking.”
Ashade emphasized the Group’s next steps, which include strengthening its footprint in digital banking, consumer finance, and funds management. “We are expanding into new markets and sectors with a focus on innovation, digital transformation, and sustainable value creation,” he stated, outlining the company’s strategy for 2025 and beyond.
The AGM underscored United Capital’s emergence as a beacon of excellence within Africa’s financial services industry. With a track record of managing high-profile transactions and consistently outperforming market expectations, the Group is poised to redefine the standards of financial and investment services across the continent.
About United Capital Plc
United Capital Plc is a diversified financial and investment services group with leading operations in Investment Banking, Asset Management, Trusteeship, Securities Trading, Wealth Management, Consumer Finance, and Microfinance Banking. As a listed entity on the Nigerian Exchange Limited (NGX), the company continues to champion innovation, technological integration, and value-driven services that empower governments, corporations, and individuals across Africa.
Discover more from Ameh News
Subscribe to get the latest posts sent to your email.
