Fidelity bank banner Bayelsa State banner
UBA shareholders approve N22.23bn dividend for 2017

By Chinyere Joel-Nwokeoma on 24/04/2018

Share on facebook Yahoo mail icon Gmail icon Share on Google+

Views: 655

•UBA Building
•UBA Building

United Bank for Africa (UBA), on Monday, endorsed the payment of N22.23 billion final dividend declared by the board for the financial year ended Dec. 31, 2017.

The News Agency of Nigeria (NAN) reports that the shareholders gave the approval at the bank’s 56th Annual General Meeting held in Lagos.

The final dividend translated to 65k per share when compared with the final dividend of 55k paid in the corresponding period of 2016.

The dividend was in addition to the 20k per share paid as interim dividend earlier.

Speaking at the meeting, Mr Boniface Okezie, the National Chairman, Progressive Shareholders Association of Nigeria (PSAN), commended the board and management for the dividend in spite of unfriendly operating environment.

Okezie lauded the bank for the enhanced dividend and its great work as well as achievements in the continent.

He said that the bank had shown that good things could come from Africa, noting that the bank would continue to showcase the strength of Africa.

The shareholder activist urged the board and management of the bank to live up to the desired expectation.

Okezie, however, called on the shareholders to leverage on the Securities and Exchange Commission (SEC) e-dividend initiative in order to bring down the bank’s unclaimed dividend totaling about N7 billion.

Mr Nona Awo, a shareholder also urged the bank’s management on investors’ enlightenment on the benefits of e-dividend.

Awo said that the bank should engage the company secretary and the registrars to tackle the unclaimed dividend figure.

He also commended the bank’s subsidiaries for improved contribution to the company’s performance indicators.

Mr Timothy Adesiyan, Grand Patron, Nigerian Shareholders’ Solidarity Association, appreciated the bank for the dividend and achievement during the year under review.

Adesiyan said that the bank should conform to regulatory rules and regulations to avoid payment of unnecessary fines.

Responding, Mr Tony Elumelu, the bank’s Chairman, assured the shareholders of enhanced returns in the years ahead.

Elumelu said the bank had opened a banking license a few months ago to operate UBA London, noting that it would continue to increase its footprint across the globe.

On unclaimed dividends, he said that the bank would continue to create e-dividend awareness in partnership with APR Registrars to reduce the figure.

Mr Kennedy Uzoka, the bank’s Group Managing Director, said that the bank would leverage its Pan-African platform to deepen and formalise intra-Africa trade through cross-border synergies across its group operation.

Uzoka said that the bank would focus on growing its market share and would remain committed to sustainable banking principles and risk management practices.

“Notwithstanding the ever-increasing competition from traditional peers and emerging Fintechs, we are approaching 2018 with strong optimism,’’ he said.

Uzoka said that the bank had made a lot of investment in technology to drive business operations.

He assured the shareholders that the bank would ensure efficient service delivery in its operations.

NAN reports that the company posted the profit before tax of N105.26 billion during the period compared to N90.64 billion in the previous year.

Its profit after tax stood at N78.59 billion in contrast with N72.26 billion in the comparative period of 2016. (NAN)

Source News Express

Posted 24/04/2018 04:17:14 AM


Share on facebook Yahoo mail icon Gmail icon Share on Google+




You may also like...
Disquiet in Abia over alleged threat to Buhari’s...

Fulani cattle rearers not welcome in Igbo land,...

Gunmen return, kill more in Kaduna LG where...

Upgrade Oko Polytechnic to University and name it...

Breaking News: IFC to launch $1Bn local-currency bond...

Kentebe meets Shell, Statoil, Oando and GE to...

Reps to probe NNPC’s financial records

Brazil 2014 World Cup: KESHI’S BROTHER OPENS CAN...

17 killed in nightclub stampede

Buhari has no reason to travel abroad to...

Saraki addresses UN Conference of Parliamentary Heads tomorrow...

Okonjo-Iweala and the politics of political will, By...


Latest News PDP National Convention: Party leaders disagree over venue Labour set for nationwide strike over minimum wage Osun Election: Protesters storm INEC Office, as PDP heads to court Court orders APC to conduct fresh election within 30 days Modric ends Ronaldo-Messi Era, wins FIFA Best Player of the Year Award Security operatives swoop ‘on PDP leaders in Osogbo’ Evil son kills father to inherit millions of dollars Troops rescue 73 Boko Haram hostages Bayelsa receives N24.16bn Paris Club refunds, slams Lokpobiri over N800bn debt claim Okowa inaugurated to chair PDP Convention Planning, receives award today in New York FRSC screens 300,000 applicants for 4,000 jobs I have no regrets, says kidnapper after arrest


Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (396,988 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (376,997 views) Shameless Genevieve Nnaji exposes breasts in public (308,851 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (250,822 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (232,517 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (221,761 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (200,278 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (181,799 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (165,933 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (163,496 views) Lagos plane crash: Journalist releases victims’ names (158,307 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (147,006 views)


Categories Advertorials (3) African Press Organisation (81) Art & Literature (63) Business & Economy (3,627) Business Verdict (52) Columnists (933) Complaints & Requests (94) Enterprise & Opportunities (207) Entertainment (547) Features (653) Global Business Monitor (301) International (2,432) Interview (165) Live Commentary (28) Love Matters (144) News (39,118) Opinion (1,111) Pidgin (11) Politics (6,740) Religion (873) Sports (1,706) Stock Watch (34) AMA & Al Jazeera Global Update


CBN banner

Firstmobile banner




Anthony Joshua vs Alexander Povetkin: Highlights


APO Group Partner




GOCOP Accredited Member

GOCOP Accredited member



Africa Media Agency and Al Jazeera