United Capital Infrastructure Fund pays out N1.98bn in 2024 dividends

United Capital Infrastructure Fund (UCIF) distributed N1.98 billion to investors for the 2024 financial year. The fund, operated by United Capital Plc, made the payments in two instalments according to its bi-annual structure.

Financial records show the fund paid N769 million in the first half of 2024, followed by N1.21 billion in the second half. The fund’s revenue increased from N791 million in 2023 to N1.9 billion in 2024, representing a 150% increase. Its gross return stood at 23.08% for the year.

“UCIF’s performance underscores our adherence to good governance principles,” said Uchenna Mkparu, the fund’s Chief Investment Officer and Fund Manager. “We’re committed to delivering robust returns while actively contributing to the growth of critical sectors of the economy.”

Read Also: Sterling Financial Holdings sets April 30 to publish its FY’24 results

The fund currently invests in sectors including recycling, power, renewable energy, agriculture, and telecommunications across Nigeria.

Infrastructure investment has become increasingly important in Nigeria, where the development of critical facilities often lags behind economic growth. In most African markets, development projects often require private-sector funding to supplement public resources.

According to the fund’s reports, the distributions consisted of both principal and interest payments to unitholders.