The board of directors of United Bank for Africa (UBA) has proposed an interim dividend of N2.00/share, translating to a dividend yield of 7.8%.

United Bank for Africa (UBA) has released its half-year financials, showing an 18.7% decline in earnings per share (EPS) to N8.90, compared to N10.95 in the same period last year.

The decline was attributed to lower non-core income, which dropped 43.1% year-on-year, despite a 134.3% growth in core income.

However, interest income surged 134.3% to N1 trillion, driven by gains in investment securities, loans, and advances.

The bank’s board proposed an interim dividend of N2.00/share, translating to a dividend yield of 7.8%

UBA’s profit after tax settled at N316.36 billion, down 16.4% year-on-year.