Business

Tony Elumelu Pockets N2.3bn in 2019FY

Published

5 years ago

March 3, 2020

Tony Elumelu Pockets N2.3bn in 2019FY

Tony Elumelu, the Chairman, United Bank for Africa Plc, pocketed a total sum of N2.3 billion for the financial year ended December 31, 2019.

The Chairman holds both direct and indirect shares of 2.3 billion, according to the statement published by the lender through the Nigerian Stock Exchange on Friday.

However, with the bank declaring final and interim dividend of N1 per share, Tony Elumelu’s total dividend for the 2019 financial year stood at N2.3 billion.

A breakdown of the bank’s financial statement shows the chairman owns indirect shares of 140,840 in HH Capital Limited; 1.74 shares in Heirs Holdings Limited, and 231,086 shares in Heirs Alliance Limited.

The bank declared an impressive N89.09 billion profit after tax for the 2019 financial year with assets rising from N4.869 trillion in 2018 to N5.604 trillion in 2019.

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Samed Olukoya

Is the CEO and Founder of Investors King Limited. He is a seasoned foreign exchange research analyst and a published author on Yahoo Finance, Business Insider, Nasdaq, Entrepreneur.com, Investorplace, and other prominent platforms. With over two decades of experience in global financial markets, Olukoya is well-recognized in the industry.

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Tony Elumelu Pockets N2.3bn in 2019FY

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