{"id":47686,"date":"2021-03-23T21:13:34","date_gmt":"2021-03-23T20:13:34","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=47686"},"modified":"2021-03-23T21:13:34","modified_gmt":"2021-03-23T20:13:34","slug":"united-capital-holds-2021-agm-pays-n4-2-billion-as-dividend","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/united-capital-holds-2021-agm-pays-n4-2-billion-as-dividend\/","title":{"rendered":"United Capital Holds 2021 AGM, Pays N4.2 Billion As Dividend"},"content":{"rendered":"

Following the release of its remarkable audited financial results for 2020, foremost Pan-African financial services conglomerate, United Capital Plc, held its Annual General Meeting on Tuesday, March 23, 2021 at Lagoon Restaurant, Victoria Island, Lagos.<\/p>\n

At the Annual General Meeting, which was held by proxy due to the COVID-19 pandemic, the Company presented its financial performance for 2020 which shows a recorded revenue of N12.87Billion, N7.95Billion in Profit Before Tax and earnings per share of 130 Kobo. Shareholders in attendance commended the company for its transparency in the published financial statements, and its adherence to legal and ethical requirements as corroborated by the company\u2019s auditors who were also present.<\/p>\n

The Chairman of the Board of Directors, Mr. Chika Mordi, in his statement to shareholders noted that \u201cDespite the macroeconomic pressure, United Capital Plc reported an outstanding financial performance in 2020. Total revenue was up 50% year on year to N12.87billion in 2020, from N8.59 billion earned in 2019. Profit Before Tax grew to N7.95billion in 2020, up 61% from N4.95billion in 2019, signifying solid growth in the overall profitability of the Group. The Group’s Return on Average Equity for the 2020 financial year stood at 35%, one of the highest among listed financial services institutions, highlighting strong value creation for our shareholders\u201d.<\/p>\n

A pivotal moment at the Meeting was the shareholders\u2019 approval to pay a dividend of 70 kobo per share, totaling N4.2billion. The shareholders also approved the appointment of two new Independent Non-Executive Directors; Mr. Titus Oladipupo Fatokun and Hajiya Sutura Aisha Bello as Directors of the Company.<\/p>\n

Speaking to the Company\u2019s outlook for the 2021 financial year, the Group CEO, Mr. Peter Ashade stated \u201cOur financial performance, in what was a year of protracted disruptions, is a testament of our unwavering commitment to our clients\u2019 needs, come what may. For us at United Capital, we are optimistic about the year 2021 as it presents greater opportunities for innovation, growth, and expansion beyond our current ecosystem\u201d.<\/p>\n

In addition to its outstanding financial performance, United Capital Plc also recorded landmark achievements during the year. The company\u2019s corporate ratings improved from BBB+ to A- with a stable short-term and long-term outlook reflective of an investment grade institution. Its flagship digital platform, InvestNow, recorded over N1billion in processed investors assets with its newly commissioned consumer finance business line disbursing 64,536 instant loans valued at N3.14billion, leveraging a 100% digital model.<\/p>

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Major contributors to the company\u2019s overall performance are its subsidiary businesses \u2013 Investment Banking, Asset Management, Securities and Trustees. This was highlighted in the company\u2019s emergence as top 3 largest Fund Manager from 10th position in 2019 with its Mutual Fund Assets Under Management exceeding N162billion at the end of 2020 from N39billion as at year-end 2019. The Company also served as the lead issuing house and trustee on various high-profile public and private securities issuances with a total value exceeding N400 billion in 2020 among others.<\/p>\n

Editor Note:<\/p>\n

About United Capital:
\nUnited Capital Plc is a leading Pan-African financial and investment services group, providing bespoke value-added service to its clients. United Capital Plc is positioned to play a strategic role in helping African governments, corporates, and individuals achieve their strategic objectives, through a robust suite of financial and investment service offerings by our Group companies: Investment Banking, Asset Management, Trusteeship, Securities and Consumer Finance. The Group is regulated by the Securities and Exchange Commission.<\/p>\n

Photo Caption: From Left-Independent Non-Executive Director, Hajiya Sutura Aisha Bello; \u00a0Group CEO, Peter Ashade; Non-Executive Director, Emmanuel Nnorom; General Counsel, Leo Okafor; and Sunny Anene, Group Executive Director, at the Annual General Meeting of United Capital Plc, held in Lagos on Tuesday<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Following the release of its remarkable audited financial results for 2020, foremost Pan-African financial services conglomerate, United Capital Plc, held its Annual General Meeting on Tuesday, March 23, 2021 at Lagoon Restaurant, Victoria Island, Lagos.<\/p>\n","protected":false},"author":6,"featured_media":47687,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[17],"tags":[1569],"coauthors":[2391],"class_list":["post-47686","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-news","tag-united-capital"],"yoast_head":"\nUnited Capital Holds 2021 AGM, Pays N4.2 Billion As Dividend - National Wire<\/title>\n<meta name=\"description\" content=\"Following the release of its remarkable audited financial results for 2020, foremost Pan-African financial services conglomerate, Unit\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nationalwire.com.ng\/sub\/united-capital-holds-2021-agm-pays-n4-2-billion-as-dividend\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"United Capital Holds 2021 AGM, Pays N4.2 Billion As Dividend - 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