United Bank for Africa (UBA) delivered a larger bottom line of N70.3 billion for the year’s first half with improvement in the cash earned through interest particularly to thank for it as well as that derived from other key income sources.
The audited financial report of Nigeria’s fourth biggest lender issued Thursday shows gross earnings totalled N375.8 billion, meaning revenue was 18.9 per cent bigger when viewed in proportion to the figure recorded a year earlier.
Interest in UBA’s shares on Thursday was at its highest since at least 26 August, the stock trading 67.8 million units after the release of the financials and as the announcement that the corporation would pay an interim dividend of N0.20 followed.
That is equivalent to a payout of above N6.8 billion.
The sentiment spurred the share price up by 1.4 per cent to N7.30 at market close.
UBA’s outstanding shares stand at 34.2 billion, while its market value as of Thursday was N249.7 billion.
Its total assets within the review period advanced from N8.5 trillion to N9 trillion.
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