UBA board meets Jan 28 to propose final dividend

UBA board meets Jan 28 to propose final dividend

By Tunde Osho

United Bank for Africa, UBA Plc, has scheduled a meeting for Monday, January 29, 2018 in Lagos.

At the meeting, the board is expected to propose a final dividend to be paid to shareholders of the lender.

A statement issued by the firm disclosed that at the board meeting for the end of this month, the financial statements for the year ended December 31, 2017 would also be considered.

“The board of directors of United Bank for Africa (UBA) Plc is scheduled to meet in Lagos at 10am on Monday, January 29, 2018 to consider the financial statements for the year ended December 31, 2017 and proposal for final dividend,” the statement signed by the lender’s secretary, Bili Odum said.

As a result of the scheduled meeting, UBA has announced its closed period, which makes it impossible for key members of the company to trade in the shares of the bank on the floor of the Nigerian Stock Exchange (NSE) until the lender releases its books.

“In compliance with the NSE Rule Book and the Amendments to the Listing Rules, the closed period for trading in the bank’s shares will be from January 12, 2018 until 24 hours after the announcement of the results.

“Consequently, no director, person discharging managerial responsibility, employees with sensitve information, advisers and consultants of the bank and their connected persons may directly or indirectly deal in the securities (shares and bonds) of the bank during the closed period,” the bank said.