United Capital Plc

Adebayo Obajemu

United Capital Plc on Monday published its Audited Financial Statement for the year ended 31 December, 2020.

The Group achieved growth in its top line and bottom line figures despite the tough business climate in 2020 occasioned by Covid-19 pandemic.

UCAP posted the Gross Earnings of N12.87 billion, up by 49.84% from N8.59 billion reported the previous year.

Profit after tax grew by 57.06% to N7.81 billion form N4.97 billion reported in 2019.

Earnings per share (EPS) of the Group increased to N1.30 from the EPS of N0.83, which translates to 57.06% growth year on year.

At the share price of N6, the P.E ratio of United Capital stands at 4.61x with earnings yield of 21.7%.

United Capital declared a final dividend of 70 kobo per share amounting to N4.2 billion to its shareholders. This is subject to appropriate withholding tax.

Qualification date is March 5, 2021 while Closure of Register is from March 8, 2021 to March 15, 2021 (both dates inclusive).

On March 26, 2020, dividends will be paid electronically to shareholders whose names appear on the Register of Members as of March 5, 2021, and who have completed the e-dividend registration and mandated the Registrar to pay their dividends directly into their Bank accounts.

The Company’s Annual General Meeting will be held at the Lagoon Restaurant, Ozumba Mbadiwe Street, Victoria Island on Tuesday March 23, 2021 at 10.00am.

UCAP is engaged in the business of investment banking and provides issuing house, corporate investment advisory services, project finance, debt restructuring, mergers & acquisitions and debt capital markets. Through its subsidiaries, it provides additional services such as trusteeship, asset management, wealth management, securities trading consumer finance and insurance