United  Capital Delivers Outstanding Financial Results, Declares N0.90 Interim Dividend Payout 

BY NKECHI NAECHE-ESEZOBOR—United Capital has once again demonstrated its market dominance with a stellar financial performance in the first half of 2024, providing substantial value to its investors and shareholders.

In its recently released unaudited financial results for the period ended June 30, 2024, United Capital reported a profit after tax increase of 65% year-on-year to N7.74 billion, a profit before tax increase of 63% year-on-year to N9.06 billion, and a gross earnings growth of 38% year-on-year to N15.15 billion.

The company’s total assets also rose by 27% year-to-date to N1.19 trillion, while shareholders’ funds increased by 33% year-to-date to N120.34 billion.

Highlights of the HY-2024 Performance below:

Earnings	HY 2024	HY 2023		Change
Gross Earnings (N’bn)	15.15	11.01		38%
PBT (N’bn)	9.06	5.54		63%
PAT (N’bn)	7.74	4.69		65%
Financial Position	June 2024	December 2023		Change
Total Assets (N’bn)	1,185.63	931.95		27%
Total Liabilities (N’bn)	1,065.29	841.23		27%
Shareholders’ Funds (N’bn)	120.34	90.71		33%
Financial Ratios	HY 2024	HY 2023		Change
**EPS (kobo)	258	156		65%
*Price-Earnings Ratio	10.28	10.08	2%

This impressive performance is further spotlighted by the investment group’s announcement of its first-ever interim dividend payout of N0.90 per share, a landmark event in the financial services sector in 2024.

This dividend not only stands as the first, by any listed company in the sector this year but substantially exceeds the interim dividends declared by tier 1 banks in the previous year. In addition to this, United Capital also announced a 2-for-1 bonus share issuance to its shareholders – a bold move from the financial services company. 

For shareholders and observers of United Capital, these substantial declarations come as no surprise, as the company has consistently maintained an upward trajectory of success.
Its stock price has demonstrated remarkable growth, increasing by an impressive 158.3% over the past year. Compared to tier 1 banks and its other financial institution (OFI) peers, United Capital has outperformed all, delivering a remarkable 76.3% year-to-date return.

These exceptional performances cement United Capital’s position as a formidable force in the market, signaling to investors and competitors alike that United Capital is here for the long haul and a force to be reckoned with.

As United Capital Plc continues to set new benchmarks and deliver unparalleled value, the market eagerly anticipates what the second half of 2024 will bring.

In a statement to the press, the Group CEO of United Capital Plc, Mr. Peter Ashade, reaffirmed their commitment to sustaining this momentum into the second half of the year.

He assured stakeholders of the company’s unwavering commitment to keep delivering exceptional results and providing excellent services.