United Capital Breaks the Bank.. Dividends Up 42%

Nairametrics| United Capital has released its 2016 full year results and as expected impressed investors by declaring mouthwatering dividends.

The company reported a profit after tax of N2.7 billion representing a 176% increase compared to the year before.

Dividend was also impressively 50 kobo per share representing a 42% increase compared to 35 kobo per share paid a year earlier.

The share price however closed lower at N3. 69 but has risen 250% in the last one year alone. Interestingly the share price is still trading at a price earnings ratio of 4x.  That will be seen as cheap in an ideal market. For now shareholders can savour in the fantastic dividend growth.