Business Good News: UBA Shareholders Approve N16.49bn Dividend

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LequteMan

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The shareholders of United Bank for Africa (UBA) on Friday at the bank's 52nd Annual General Meeting (AGM) in Lagos, approved N16.49 billion total dividend declared by the bank for the financial year ended Dec.31, 2013.

The dividend translates to 50k per share, the same amount paid to shareholders in 2012.

Speaking at the AGM, Dr Farouk Umar, President, Association for the Advancement of the Rights of Nigerian Shareholders, commended the bank for its performance in spite of stringent regulatory environment.

The bank posted gross earnings of N264.7 billion in 2013 against N220.1 billion declared in 2012.

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