United Bank for Africa Plc (NGX: UBA) will pay a final dividend of N0.80 for every ordinary share of 50 kobo each for the 2021 financial year ended 31 December 2021. If the Shareholders of the bank approve the proposed divided, it will bring the total dividend for the financial year to N1.00, as the company paid an interim dividend of N0.20 in September 2021.
The final dividend will be subject to applicable withholding tax, according to the corporate action announcement sighted by Investogist.
On Friday, UBA share price lost N0.10 to close the day’s trading at N8.25. Considering the price of the stock at the time of the announcement of final dividend, Analysts at Investogist calculates the Dividend Yield to be 12.12% before withholding tax.
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When one considers the withholding tax which currently stands at 10.00%, the net total dividend to Shareholders drop N0.90. The actual dividend yield as it applies to monies received as dividend by individual Shareholders will be 10.90%.
The dividend yield, expressed as a percentage, is a financial ratio (dividend/price) that shows how much a company pays out in dividends each year relative to its stock price.
UBA’s dividend will be paid to o shareholders whose names appear in the Register of Member as at the close of business on Friday, March 18, 2022, the qualification date for the dividend. 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 whose names appear on the Register of Members as at close of business on Friday, March 18, 2022 and who have completed the e-dividend registration and mandated the Registrar to pay their dividends directly into their Bank accounts.
Shareholders who are yet to complete the e-dividend registration are advised to download the Registrar’s E-Dividend Mandate Form, which is available at http://www.africaprudential.com,complete and submit to the Registrar at the address below, any UBA Branch or their respective banks. Shareholders are also advised to update their records with the Registrar as may be required. The Shareholder Data Form is also available on the Registrar’s website. Duly completed forms should be returned to the Registrar or any Branch. Alternatively, scanned completed forms can be sent to cxc@africaprudential.com or investorrelations@ubagroup.com.
Shareholders with dividend warrants and share certificates that have remained unclaimed or are yet to be presented for payment or returned for validation ae advised to complete the edividend registration or contact the Registrar.
UBA’s Annual General Meeting will be held at Congress Hall, Transcorp Hilton Hotel, Abuja FCT by 10.00am on Thursday April 7, 2022. Attendance by Proxy is subject to the Government’s restrictions on public gathering in line with the Covid-19 health protocols.
Africa Prudential is the Registrar of UBA, with a registered address at 220b Ikorodu Road, Palmgrove Lagos. Phone: +234813 984 0850-4. Email: cxc@africaprudential.com; website: www.africaprudential.com.
Nnamdi Maduakor is a Writer, Investor and Entrepreneur
