March 15 (Lagos) - Shares of United Bank for Africa Plc (
UBA ) declined by 20 kobo per unit today after the Bank posted full year results which were flat.
However the bank proposed final dividend of 65 kobo bringing the annual payout to 85 Kobo per unit.
That is one of the better dividend yields of 11.4% based on todays closing price of 7.45 per unit.
We feel investors will want a piece of that dividend and stock is undervalued. It was a downer week after
ACCESS results disappointed earlier in the week and that mood carried on today as well.
Next week
ACCESS &
UBA could recover if overall market does not fall further. Ten years ago
UBA shares used to be well above N 50 mark and today's closing price is a testimony to how much shareholders have lost in that period.
reporting for easykobo.com on Friday, March 15 2019 from Lagos, Nigeria