Tony Elumelu, Chairman of United Bank for Africa (UBA), is set to receive N1.68 billion in dividends following the bank’s interim payout of 25 kobo per share for the first half of 2025.
His direct holdings account for N375.4 million, while his indirect stakes through multiple investment vehicles will generate an additional N1.3 billion. Elumelu’s indirect holdings span over 5.2 billion shares across entities including HH Capital Limited, Heirs Holdings Limited, Heirs Alliance Limited, STH Limited, and Eternal Properties.
The dividend comes despite UBA trimming its interim payout compared to the record N2.00 per share declared in 2024. The bank reported a pre-tax profit of N388.4 billion for the first six months of 2025, down from N401.5 billion in the same period last year.
UBA’s income remained robust, with interest income rising 32.9% year-on-year to N1.3 trillion. Treasury bills contributed N366.4 billion, corporate term loans N319 billion, bonds N279.2 billion, cash and bank balances N113.2 billion, and loans to banks N105.6 billion.
The lender’s balance sheet strengthened further, with total assets increasing to N33.2 trillion from N30.3 trillion in December 2024. Retained earnings also grew nearly 13% to N1.6 trillion.
Elumelu has consistently ranked among Nigeria’s top dividend earners. In 2024, he earned an estimated N12.71 billion in dividends, while in 2022, he received N2.66 billion, reflecting his long-term stake in UBA and its dividend growth trajectory.
