United Bank for Africa (UBA) has reported a remarkable financial performance for the 2024 fiscal year, announcing a record-breaking profit of N804 billion. As a result, the bank’s board has proposed a final dividend of N3.00 per share, bringing the total dividend payout for the year to N5.00 per share.
UBA’s latest financial report highlights significant growth in key revenue streams, driven by improved lending practices, increased customer deposits, and strong performance in digital banking services. The bank’s leadership attributed the impressive results to strategic investments and enhanced operational efficiency.
According to the Group Managing Director, Oliver Alawuba, the final dividend is pending approval at the upcoming Annual General Meeting (AGM), where shareholders will vote on the proposal. If approved, eligible investors will receive the dividend payout in the coming months.
Financial analysts have praised UBA’s strong earnings report, noting that it underscores the bank’s resilience despite economic challenges. Market experts predict that the announcement will likely boost investor confidence, potentially influencing share prices in the coming trading sessions.