Union Bank has announced that its shareholders will receive a final dividend of 25 kobo for every share of 50 kobo subject to appropriate withholding tax and approval will be paid to shareholders whose names appear in the Register of Members as at the close of business on the 31st day of March 2021.
The Bank in its Audited Financial Statement for the year ended 31, December 2020 reported a Gross Earnings of N160.292 billion, down by 3.75% from the Gross Earnings of N166.545 billion reported in 2019.
Profit after tax for the 12 months period was N18.672 billion, down by 6.05% from N19.875 billion reported the previous year. Earnings per share (EPS) of Union Bank dropped to N0.64 form the EPS of N0.68.
At the share price of N5.05, the P.E ratio of Union Bank stands at 7.88 times with earnings yield of 12.7%.
Qualification date for dividend is 31st day of March 2021. The Register of Shareholders will be closed on the 1st day of April 2021.
On 13th day of April 2021, dividends will be paid electronically to shareholders whose names appear on the Register of Members as at the 31st day of March 2021 and who have completed the e-dividend registration and mandated the Registrar to pay their dividends directly into their Bank accounts.