March 31, 2023.
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United Bank for Africa Plc is a leading Pan-African financial institution, offering banking services to more than twenty-five million customers, across over 1,000 business offices and customer touch points, in 20 African countries and across 4 continents.
United Bank for Africa has published its audited report for 2022 year end with dividend declaration of 90 kobo.
The financial institution achieved Gross Earnings of N852.863 billion for the 12 months period, up by 29.56% from N658.291 billion achieved the previous year.
Despite the highly challenging global economic and business environment, UBA recorded a laudable profit before tax, with a 31.2 percent growth, to close the year under review at N200.8 billion, rising from N153.01 billion recorded at the end of the 2021 financial year; while profit after tax (PAT) grew by 43.5 percent to N170.2billion in 2022, compared to N118.7 billion recorded the year before. Consequently, UBA Group Shareholders’ Funds rose to N922.1billion, as at December 2022, achieving an impressive growth by 14.6 percent, compared to prior year.
Earnings per share of the Group for the period under review stands at N4.98.
At the share price of N8, the P/E ratio of UBA stands at 1.61x with earnings yield of 62.24%.
In its usual tradition of rewarding shareholders, the Bank proposed a final dividend of 90 kobo for every ordinary share of 50 kobo, for the financial year ended December 31, 2022. The final dividend which is subject to the ratification of the shareholders during its upcoming Annual General Meeting (AGM) will bring the total dividend for the year to N1.10 per share, as the Bank had paid an interim dividend of 20 kobo, based on its audited 2022 half year results.
Qualification date for the proposed dividend is April 14, 2023.
The Bank’s Register of Members will be closed on Monday, April 17, 2023 to enable the Registrars prepare for payment of final dividend.
On Thursday, April 27, 2023, the final dividend will be paid electronically to shareholders whose names appear on the Register of Members as at close of business on Friday, April 14, 2023.(www.naija247news.com).
