UBA Plc has declared a dividend of 50k per share for the Financial Year Ended 31st December, 2012. Qualification date for the dividend is 21st May, 2013 while register will be closed between the 22nd of May 2013 and 24th of May 2013. The Bank's Annual General Meeting is slated for 7th June 2013.

The 50k dividend is not far from market expectations as Analysts have speculated a 60k dividend weeks before this announcement. At current market price, the dividend gives a yield of 6% which is not also far from the industry average yield based on corporate actions announced by banks recently.

Details of the full year result has not reached the market, I believe its first quarter earnings which is due for release will help to boost confidence in the Africa's Global Bank and consequently drive its share price further upward. Having cleaned its books of toxic assets in the previous financial year, the bank is set to explode in profitability, (barring any major shock on its fundamentals) as a result of the various restructuring and reposition programmes it has undergone in recent times.