UBA to pay 20k interim dividend as PAT rises 56%

The Board of Directors of United Bank for Africa (UBA) Plc, has declared an interim dividend of 20k per share to its shareholders for the half -year period ended June 30th, 2017.

The Directors also presented the Group’s audited financial statement, reporting a 56 per cent increase in profit after tax of N42.3billion.

According to the board, the interim dividend of 20 kobo interim dividend from the retained earnings account as at 30 June, 2017, would be presented to shareholders for approval at the next Annual General Meeting (AGM).

The director’s report from the financial statements further noted that “Payment of dividend is subject to applicable withholding tax and payable to shareholders whose names appear on the Register of Shareholders on August 30, 2017.”

The dividend is to be paid September 11, 2017 while the closure date is slated for August 31, 2017.

Other financial highlights of the results indicate a 35 per cent growth in gross earnings of N222.7bn, a net interest income of N102.4bn which also increased 58 per cent and a profit before income tax of N57.5bn which appreciated 66 per cent ,fromN34.8bn recorded in the corresponding period of 2016.