United Capital Plc (UCAP) has announced a remarkable financial performance for the 2024 fiscal year, with a 111.03% increase in Profit After Tax (PAT) to N24.10 billion, up from N11.42 billion in 2023.
The company’s gross earnings rose by 82.50%, driven by income from loans, dividend income from securities investments, and interest from placements and bonds.
Fee and commission income also surged by 80.18%, confirming the company’s industry leadership.
United Capital’s net trading income increased by 61.17%, while net gain on financial assets at fair value through profit and loss grew by 18.77%.
The company’s total expenses dropped by 45.51%, demonstrating its ability to manage costs.
As a result of its impressive financial performance, United Capital has proposed a final dividend of 50 Kobo per share for the 2024 financial year, bringing the total dividend distribution for the year to N2.40 Kobo.
This marks the company’s 10th consecutive year of dividend payments, with a total dividend payout of N14.4 billion in 2024, representing a 44% increase over the previous year.
United Capital’s dividend growth has been remarkable, with a 860% increase in dividend payouts over the last 10 years, from 25 Kobo to N2.40.
The company has expressed its commitment to sustaining its remarkable performance and leading the Nigerian capital market, while unlocking new opportunities on the African continent.
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