United Bank for Africa (UBA) Plc has recorded a profit of N118.68 billion in 2021 reflecting an 8.72 percent increase year on year.
The bank revealed this in its Full Year Financial Result of 2021, adding that its earnings per share stood at N3.39, a 9.35% percent growth from the N3.10 reported a year earlier in 2020.
The result said the UBA Plc has almost doubled its profits in six years since hitting N60 billion in 2015 with the profit now touching roughly N119 billion.
The statement revealed that in FY 2021, interest income grew by 10.84 per cent from N427.86 billion to N474.26 billion in the current period. UBA’s profit performance is on the back of all margin growth as income from interest and fees and commission income are all appreciated year on year.
United Bank for Africa Plc last traded at N8.25 per share and its market capitalization stands at N282.15 billion as of Friday, March 4, 2022. Year-to-date performance shows that the share price of the company has appreciated by 2.48 per cent
The Directors of the group have proposed a final dividend per share of N0.80 per share, to be paid from the company’s retained earnings account as of December 2021. The company had earlier paid an interim dividend of N0.20 kobo in September 2021, hence bringing the total dividend for the financial year to N1.00 kobo.
The proposed dividend will be presented to shareholders for approval at the next Annual General Meeting and paid subsequently subject to withholding tax at an appropriate rate.
Based on its current share price, UBA Plc’s dividend yield is about 12 per cent
