Tony Elumelu, the chairman of United Bank for Africa (UBA) Plc, is poised to receive dividends exceeding N7 billion following the bank’s declaration of a final dividend of N3 per share. This substantial payout reflects UBA’s robust financial performance for the fiscal year ending December 31, 2024.
UBA’s board has approved a final dividend of N3 per share, bringing the total dividend for the year to N3.50 per share, inclusive of the interim dividend of 50 kobo earlier paid. This decision underscores the bank’s commitment to delivering value to its shareholders.
As a significant shareholder, Elumelu’s earnings from the dividends are substantial. His holdings in UBA translate to a dividend payout exceeding N7 billion, reflecting his confidence in the bank’s growth trajectory.
UBA’s impressive financial results for the year highlight its resilience and strategic positioning in the banking sector. The bank’s ability to declare such dividends indicates strong profitability and a solid balance sheet.
