Kayode Ogunwale

 

United Bank for Africa PLC, (UBA) has announced its decision to pay the bank shareholders interim dividend upon Central Bank of Nigeria (CBN) approval of 2023 half year results of the group.

The tear 1 lender, in a statement forwarded to Nigerian Exchange Limited (NGX), said the Board of United Bank for Africa PLC at its meeting which held on Monday, July 31, 2023, considered and approved the 2023 Half Year Results & Reports and payment of an interim dividend, subject to the approval of the Central Bank of Nigeria.

The statement signed by the group company secretary/legal counsel stated that Nigerian Exchange Limited and the investing public would be immediately notified upon approval of the 2023 Audited Half Year Results & Reports by the Central Bank of Nigeria.

With this announcement, the share price of the group fell by one percent at the end of Friday trading with N0.15 kobo  dropped from N14.35 kobo it open the trading on Friday to close at N14.20 kobo per share.

Although there is tendency that shareholders might take advantage of propose interim dividend which may likely lead to rise in share price of UBA in the next few trading days.