United Bank for Africa (UBA) Plc shareholders on Tuesday approved payment of N29.1 billion dividend for the financial year ended December 31, 2018.
The dividend translated to 20k interim dividend paid in September and final dividend of 65k per share.
This brings the bank’s total dividend declared to 85k per share.
The bank was given the green light by its shareholders at the bank’s 57th annual general meeting held in Lagos.
Chairman, Association for the Advancement of the Rights of Nigerian Shareholders, Dr Farouk Umar, speaking at the meeting, lauded the bank for improved dividend declared during the period under review.
He also said that shareholders were expecting at least N1 dividend from the bank in the current financial year.
The bank’s Chairman, Tony Elumelu said UBA would continue to deliver superior return to its shareholders.
The Group’s Managing Director, Kennedy Uzoka said: “We have a duty to look beyond today; we look into the future in UBA. As we progress with the execution of our strategies, we approach 2019 with stronger optimism.
“Our immediate priorities are clear; our collective commitment to a service delivery that always surpasses the expectations of customers.”
UBA had earlier declared profit before tax of N106.77 billion compared with N104. 22 billion achieved in 2017.
Profit after tax stood at N78.61 billion in contrast with N77.55 billion in 2017.
