UBA declares N105.3 bn profit, recommends N0.85 final dividend

The board of United Bank for Africa Plc has proposed a final dividend of 65 kobo per every share of 50 kobo each.

The bank made this known in its audited results for the financial year ended December 31, 2017, which shows significant growth in the contribution and market share from its pan-African subsidiaries.

The group delivered a strong 16% year-on-year growth in profit before tax of N105.3 billion, compared to N90.6 billion in the 2016 financial year.

The profit after tax also leaped to N78.6 billion, an 8.8% year-on-year growth compared to N72.3 billion in 2016.

The bank’s subsidiaries outside Nigeria contributed a third of the group’s top-line and 45% of the profit for the year, a remarkable improvement from 31 percent contribution made by the ex-Nigeria offices in 2016.

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