Elumelu to Earn N1.68Bn from UBA Interim Dividend

The Chairman of the United Bank for Africa (UBA), Tony Elumelu, is poised to collect a combined dividend of ₦1.68 billion after the bank declared an interim payout of 25 kobo per share for the first half of 2025.

Elumelu’s direct shareholding will earn him around ₦375.4 million, while the majority—about ₦1.3 billion—will come from his indirect interests in the pan-African lender.

He controls a vast stake through a network of investment vehicles, including HH Capital Limited, Heirs Holdings Limited, Heirs Alliance Limited, STH Limited and Eternal Properties, together holding more than ₦5.2 billion shares.

Although UBA’s interim dividend is lower than the record ₦2.00 per share declared in the same period of 2024, the payout reinforces Elumelu’s status as one of Nigeria’s most reliable dividend earners.

UBA reported a pre-tax profit of ₦388.4 billion for the first six months of 2025, down slightly from ₦401.5 billion a year earlier.

The bank’s balance sheet remained robust, with total assets rising to ₦33.2 trillion from ₦30.3 trillion at the end of 2024.

Retained earnings grew by nearly 13 per cent to ₦1.6 trillion, supported by a 32.9 per cent jump in interest income to ₦1.3 trillion.

Treasury bills generated the largest share of this income at ₦366.4 billion, followed by corporate term loans at ₦319 billion.
This latest windfall continues a lucrative pattern for Elumelu.

In 2024, he reportedly earned about ₦12.71 billion in UBA dividends, building on multi-billion-naira payouts in preceding years.

The consistent income stream underscores both UBA’s strong performance and Elumelu’s enduring influence in Nigeria’s financial sector.