Monday, 1 June 2020

WHY UBA PAID TONY ELUMELU N2.30 BILLION IN 2019

Tony Elumelu & Barrack Obama
Well, you may be wondering why the United Bank for Africa Plc paid the sum of N2.30 billion to a word-class investor, Tony Elumelu.

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Tony Elumelu is the Chairman of UBA Plc and he holds total outstanding shares of 2.30 billion (both direct and indirect), and when multiplied with a final dividend of N1 (interim and final), gives us the amount he received.

A breakdown of his holdings shows he owns: 140,840 shares in UBA using one of his companies, HH Capital Limited. He equally has 1.74 billion shares using Heirs Holdings Limited, and 231,086 shares using Heirs Alliance Limited.

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