United Bank for Africa has published its audited report for 2022 year end with dividend declaration of 90 kobo.
The financial institution achieved Gross Earnings of N852.863 billion for the 12 months period, up by 29.56% from N658.291 billion achieved the previous year.
Profit after tax (PAT) grew year on year by 43.48% to N170.277 billion from N118.678 billion reported the previous year.
Earnings per share of the Group for the period under review stands at N4.98.
At the share price of N8, the P/E ratio of UBA stands at 1.61x with earnings yield of 62.24%.
A final dividend of 90 kobo was proposed to shareholders, bringing the total dividend for the financial year ended December 31, 2022 to N1.10.
Qualification date for the proposed dividend is April 14, 2023.
The Bank’s Register of Members will be closed on Monday, April 17, 2023 to enable the Registrars prepare for payment of final dividend.
On Thursday, April 27, 2023, the final dividend will be paid electronically to shareholders whose names appear on the Register of Members as at close of business on Friday, April 14, 2023.
This is perhaps the best result thus far on the NGX this year. Fantastic growth in both top and bottom lines . Earning and dividend yields are unbeatable at the current share price of N8. It’s safe to say that UBA is grossly undervalued at the current price.