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LequteMan
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The United Bank for Africa (UBA) has slashed the dividend payable to its shareholders for the financial year ended Dec. 31, 2014 by 80 per cent.
According to the company's audited results released by the Nigerian Stock Exchange (NSE) on Friday in Lagos, the bank is proposing a dividend of 10k per share, compared with 50k paid in 2013.
The bank posted a profit before tax of N56.2 billion, against the N56.1 billion it earned in the corresponding period of 2013.
Its profit after tax stood at N48 billion, as against the N46.60 billion achieved in 2013.
The bank's gross earnings rose by 10 per cent to N290 billion, compared with the N264.7 billion in the previous period.
The bank attributed its growth in earnings to a diversified and stable income base.
Interest income in the period under review also increased by 5.91 per cent to N197 billion from the N186 billion in December 2013.
Also, the bank's non-interest income rose by 18.17 per cent to N93.3 billion, from the N79.0 billion achieved in the preceding period of 2013.
Its shareholders' funds grew by 13 per cent to N265 billion in 2014, from the N235 billion in 2013.
#Nigeria #UBA
According to the company's audited results released by the Nigerian Stock Exchange (NSE) on Friday in Lagos, the bank is proposing a dividend of 10k per share, compared with 50k paid in 2013.
The bank posted a profit before tax of N56.2 billion, against the N56.1 billion it earned in the corresponding period of 2013.
Its profit after tax stood at N48 billion, as against the N46.60 billion achieved in 2013.
The bank's gross earnings rose by 10 per cent to N290 billion, compared with the N264.7 billion in the previous period.
The bank attributed its growth in earnings to a diversified and stable income base.
Interest income in the period under review also increased by 5.91 per cent to N197 billion from the N186 billion in December 2013.
Also, the bank's non-interest income rose by 18.17 per cent to N93.3 billion, from the N79.0 billion achieved in the preceding period of 2013.
Its shareholders' funds grew by 13 per cent to N265 billion in 2014, from the N235 billion in 2013.
#Nigeria #UBA
