At its next meeting, the board of United Capital Plc will discuss issuing an interim dividend and bonuses in addition to reviewing the company’s unaudited financial statements for the quarter ended June 30, 2024.
THE MATRIX was able to gather this information from a notification made to the Nigerian Exchange Limited (NGX) about the Company’s Q2 2024 board meeting and closed period.
According to documents THE MATRIX tracks, this move is significant since it represents the first time the investment bank is thinking about issuing an interim dividend.
According to a statement signed by the Company Secretary/ General Counsel, Dr, Leo Okafor, the meeting in Lagos on Tuesday, July 16, 2024, noted that the closed period for trading in the shares of the Company would commence on July 1, 2024, in respect of the Q2-2024 Financials
“The Board of United Capital Plc (the “Company”) will meet in Lagos on Tuesday, July 16, 2024, to consider, among other things, the Company’s Unaudited Financial Statements for the quarter ending June 30, 2024 (the “Q2- 2024 Financials”) and a proposal for an interim dividend and bonus issuance.
In accordance with the post-listing requirements of the Nigerian Exchange Limited (“NGX”), the closed period for trading in the shares of the Company will commence on July 1, 2024, in respect of the Q2-2024 Financials.
Hence, no Insider of the Company and their connected persons may directly or indirectly deal in the securities of the Company until 24 hours after the release of the Q2-2024 Financials to NGX and by extension, the general public”.
The Board of Directors of the company had proposed that a dividend of N1.80 kobo per ordinary share of 50 kobo each amounting to N10.8 billion, be paid to shareholders upon approval at the Annual General Meeting. The proposed dividend is subject to appropriate withholding tax.
In 2022, the Investment Bank declared and paid N9 billion in dividends recommended by the board of directors for the full year 2022.
The dividend represents N1.50 for every 50 kobo ordinary shares.
United Capital Plc has 6,000,000,000 outstanding shares and a market capitalization of N130.5 billion as of the time of filing this report.
The company’s retained earnings are about N24.5 billion which allows them to pay dividends.
The company closed its last trading day on Wednesday, June 26, 2024, at N21.95 per share on the Nigerian Stock Exchange (NGX), recording a 0.5% gain over its previous closing price of N21.85.
United Capital began the year with a share price of N23.00 but has since lost 4.57% off the price valuation.
