UBA stockholders would receive a final dividend of N78.7 billion in FY 2023, equivalent to N2.30 per ordinary share retained. 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 total 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.
The final dividends will be paid to stockholders whose names are included in the Register of Members as of Friday, May 10, 2024, at the close of business, according to the company’s letter to the NGX. And on May 24, 2024, the payment will be made.
Additionally, shareholders are urged to receive the E-Dividend Mandate Form if they haven’t finished the e-dividend registration process yet.
Important Details To Remember
Unclaimed dividends from UBA rose to N14.9 billion in 2023, an 18% rise from the N12.6 billion reported in 2022.
The letter advised shareholders to either complete the e-dividend registration process or contact the Registrar for assistance if they had outstanding dividend warrants or share certificates that have not been claimed or presented for payment.
Africa Prudential Plc serves as the group’s registrar.
UBA Plc announced a profit after tax of N607.7 billion for the fiscal year 2023, a staggering 257% rise from the N170.3 billion PAT reported for the previous year. A net FX revaluation gain of N26.6 billion was included in the PAT.
Nonetheless, the CBN instructed banks not to use their gains from the FX revaluation for operating costs or dividend payments.
