UBA increases dividend payout by 128.57%, PAT rises to N118.68bn

United Bank for Africa (UBA) on Friday published its Audited Financial Statements for the year ended 31 December 2021.

UBA declared a final dividend of 80 kobo to its shareholders. This translates to 128.57% growth in dividend payout when compared to 35 kobo final dividend declared the previous year.

In addition to the interim dividend of 20 kobo already paid, UBA altogether declared N1 dividend for 2021 financial year.

The financial Institution grew its topline and bottom line figures for the year under review by 6.90% and 8.72% respectively.

Gross Earnings of N658.291 billion was recorded for the 12 months period, up by 6.90% from N615.772 billion achieved in FY 2020

Profit after tax grew by 8.72% to N118.678 billion from N109.162 billion reported the previous year.

Earnings per share increased year on year by 8.72% to N3.47 from the EPS of N3.19 achieved the previous year.

At the share price of N8.40, the P/E ratio of UBA stands at 2.42x with earnings yield of 41.31%. A position in UBA will give a dividend yield of 9.52%.

UBA is considered cheap as it is trading below its Book Value of N23.34.

Qualification date for the dividend is on Friday, March 18, 2022.

The Bank’s Register of Members will be closed on Monday, March 21, 2022 to enable the Registrars prepare for payment of final dividend.

On Thursday, April 7, 2022, the final dividend will be paid electronically to shareholders.

Source: UBA increases dividend payout by 128.57%, PAT rises to N118.68bn – StocksWatch (stocksng.com)

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