Insider Dealings: United Capital Insiders Scoop Company’s Shares Ahead of N9 Billion Dividend Payment

Following United Capital’s 44% jump in profit after tax to N11.26 billion in the 2021 financial year, staff (insiders) of the company have started acquiring United Capital shares ahead of the company’s proposed N9 billion dividend payment.

The company stated in its insider dealing disclosures obtained by Investors King.

Chiamaka Solange Ogbuji, an officer, institutional and Group Sales of the company, purchased 14,956 shares of United Capital at N13.20 per unit on Monday 21, February 2022.

On the same day, an intern with the company’s research unit, Ayooluwa Michael Aseweje also acquired 3,765units at N13.20 per share.

Similarly, Akinola Emmanuel Bello, an equity trader and Adegbemisola Folasade Adenekan, a human resource manager with the company bought 45,000 and 316,299 shares at N13.20 a unit, respectively.

Other insider purchases are:

• Ugonnaya Osi, Head, Institutional and Group Sales, purchased 376,547units at N13.20 per share
• Emeka Innocent Atuma, Head, Enterprise Risk Management, mopped 753,094 units at N13.20 per share
• Ejikeme Okoli, Head, Strategy and Innovation, bought 150,000units at N13.20 per share
• Ayooluwa Michael Aseweje, Intern, Research, 14,494 units at N13.55 per share (purchased on Tuesday, February 22, 2022)
• Chiamaka Egbukole, Intern, Africa Region, 200 units at N13.20 per share (purchased on Tuesday, February 22, 2022)

In 2021, United Capital recorded broad improvement across key units. Revenue grew by 40% to N18.07 billion while operating income rose by 30% to N16.24 billion.

The company’s total assets more than double to N453.60 billion, a 104% increase from N222.75 billion recorded in 2020.

United Capital proposes a 114% increase in dividend payment to N1.50 for every 50 kobo ordinary share held in the company, amounting to N9 billion. Hence, the rush to own a piece of the company.

Chika Mordi (Professor), the Board Chairman, who commented on the company’s broad-based positive performance, said: “We are proposing N1.50 dividend for every 50 kobo ordinary share, up 114percent over 70 kobo dividend paid last year. This affirms our commitment to wealth creation for our shareholders”.

Commenting on the Group’s performance, the Group Chief Executive Officer, Peter Ashade said: “Our strong performance was driven by exponential growth in business activities across all the market segments that we serve as we successfully navigated a volatile operating environment to create best-in-class solutions for our clients.”