2023: UBA Prepares N78.7 Billion As Final Dividends For Shareholders

For FY 2023, UBA shareholders would get a final dividend of N78.7 billion, or N2.30 for each ordinary share held. UBA distributed a total dividend of N2.80 per share, or N95.8 billion, when combined with an interim dividend of N0.50 per share paid for H1 2023.

The N95.8 billion total dividend paid for FY 2023 is a 154.8% increase over the N37.6 billion total dividend paid for FY 2022. Although the overall amount of dividends paid out in 2023 increased, the group’s dividend payout to PAT ratio decreased by 6.3 percentage points, from 22.1% in 2022 to 15.8% in 2023.

In the company’s notice to the NGX, it was specified that the final dividends will be disbursed to shareholders whose names are recorded in the Register of Members as of the close of business on Friday, May 10, 2024. And the payment will be made on May 24, 2024.

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Also, shareholders who have not yet completed the e-dividend registration process are encouraged to obtain the E-Dividend Mandate Form.

In 2023, UBA’s unclaimed dividends increased to N14.9, an 18% increase from N12.6 billion unclaimed dividends posted in 2022.

In the notice, it was noted that shareholders who have outstanding dividend warrants or share certificates, which have not been claimed or presented for payment, complete the e-dividend registration process or get in touch with the Registrar for assistance.

The group uses Africa Prudential Plc as its registrar. For the FY 2023, UBA Plc reported a profit after tax of N607.7 billion, representing a whopping 257% increase from its PAT of N170.3 billion posted in 2022. Contained within the PAT was a net FX revaluation gain of N26.6 billion.

However, the CBN directive to banks is that FX revaluation gains were not to be used for dividends payment or operational expenses.