United Capital Plc holds 2022 Annual General Meeting (AGM), announces 114% increase in dividend

00003United Capital AGM 2022 official
Cross-section of the Board of Directors of United Capital Plc – L-R: Leke Ogunlewe – Non-Executive Director, United Capital Plc, Hajia Sutura Aisha Bello – Independent Non-Executive Director, United Capital Plc, Peter Ashade – Group CEO, United Capital Plc, Emmanuel Nnorom – Non-Executive Director, United Capital Plc, Leo Okafor – Group Company Secretary, Sunny Anene – Group, Executive Director, United Capital Plc, Tokunbo Ajayi, Stephen Nwadiuko – Independent Non-Executive Director, United Capital Plc; at the recently concluded 2022 Annual General Meeting, held at Transcorp Hilton, Abuja.

Leading Investment Bank and foremost Pan-African financial services group, United Capital Plc, held its Annual General Meeting on Wednesday, March 23rd, 2022, at Transcorp Hilton, Abuja.
At the meeting, the Company presented its audited financial statements for the 2021 financial year where it recorded an exceptional performance. Much to the delight of its shareholders, the board of directors of United Capital Plc, at the event, approved a record-breaking dividend payout of up to N1.50 for every 50 Kobo ordinary shares; a 114% increase from the previous financial year.


Offering more insight on the financial activities of the company, The Chairman of the Board of Directors, Mr. Chika Mordi, in his statement to shareholders in the Annual Report stated:

“In spite of macroeconomic pressure, our Total Revenue was up 40% year-on-year to N18.07billion in 2020, from N12.87billion earned in 2020; Operating Profit Before Tax grew to N12.12billion in 2021, up 53% from N7.95billion in 2020, while profit before tax was up 50% to N11.92billion signifying solid growth in the overall profitability of the Group.” In addition, The Total Assets of the Group rose 104% year-on-year to N453.60billion by December 2021, driven by significant growth in managed funds while Shareholders’ Funds was up 25% to N30.55billion largely due to the significant growth in profit after tax.”


Commenting on the Group’s projections and strategic intent for the 2022 financial year, the Group Chief Executive Officer, Mr. Peter Ashade, stated:

“Our company has again shown consistent growth and resilience in delivering on its commitment to shareholders and other stakeholders as evident in the strong positive financial metrics recorded in the year under review. Going into the 2022 business year, we will focus on our transformation agenda by deepening our value propositions to key market segments, especially mass affluent and mass market clients and exploit new market opportunities. Our stakeholders can be assured of our commitment to keep delivering an exceptional result.”


Beyond its impressive financial figures, United Capital Plc also recorded a number of remarkable feats in the previous year. The Group successfully launched the United Capital Infrastructure Fund (UCIF) as a vehicle for infrastructure development in the country following the successful registration of the Fund with the Securities and Exchange Commission (SEC). The company’s shares were also reclassified by the Nigerian Stock Exchange’s from Low Price Stock Group to Medium Price Stock Group, driven by a steady growth in the company’s share price. Just recently, United Capital Plc obtained a score of 87.24% from the recertification exercise conducted by the Corporate Governance Rating System (CGRS), retaining its status as one of the companies on Nigerian Exchange Limited’s (NGX) Corporate Governance Index (CGI).


About United Capital Plc

United Capital Plc remains a leader in the financial and investment services space, with a mission to provide bespoke and innovative value-added services to its clients. The group aims to transform the African continent by providing innovative and creative investment banking solutions to governments, companies, and individuals.


As a pacesetter, United Capital is the first Investment Bank to be listed on the Nigerian Stock Exchange. It maintains a holding company structure with subsidiaries in Asset Management, Trusteeship, Securities Trading and Consumer Lending business


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