Yemisi Izuora
Shareholders of United Bank for Africa (UBA) Plc have commended the bank for its strong financial performance in 2015 despite the difficult operating environment globally.
The bank’s shareholders also approved the board’s recommendation to pay a final dividend of 40 kobo per share.
UBA had earlier paid an interim dividend of 20 kobo in September 2015 bringing the total dividend paid in respect of its 2015 financial year to 60 kobo per share.
Speaking at the AGM, President, Independent Shareholders Association of Nigerian (ISAN), Sir Sunny Nwosu, expressed his appreciation to the bank’s board and management for growing profit and increasing dividend payment at a time when many other banks recorded lower profit and had to cut dividends.
He said: “this dividend payment reinforces the resilience of the bank amidst challenging operating environment and it also shows the quality of the bank’s management.”
In his comment, Chairman of UBA Plc, Mr. Tony Elumelu told shareholders at the meeting that UBA’s strong performance in 2015 reflects efficiency gains, prudence and best practice in risk management.