Report By: Jeariogbe Tunde Segun
Key Ratios
• The full year dividend is 42.86% above the 35k paid in the previous year. With a yield of 13.55%.
• The qualification date for the 50k dividend is 2nd March, 2017 since the book is scheduled for closure on 3rd March 2017. The Agm date is March 17th while Payment date is 22nd March. The Agm venue is Eko Hotel and Suits Plot 1415 Adetokunbo Ademola str Victoria Island Lagos.
• Meanwhile the payout ratio of 43.40% is quite below the 81.70% of the comparable year in 2015. Nevertheless, it should be noted that gains from the sales of its investment in UBA metropolitan life limited was included in the profit for the period. This could justify the reduced payout. Please note that the reduced payout ratio is responsible for the boost in the sustainable growth rate of dividend.
• Debt to Equity ratio is quite on the high side, although this is typical to Ucap business structure as the boost in the Total Liability was due to the over N100 billion managed funds. Removing this value, the company’s debt to equity ratio will stem down to about 4.00. Which is applaudable since the management was able to improve earnings through the debt used through the reported year.
• The company retained earnings improved by 57.08% over 2015 figure.
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