Africa Prudential Plc Shareholders Approve N0.45 per Ordinary Share Dividend

Yesterday, at its 11th Annual General Meeting (AGM), the shareholders of Africa Prudential Plc approved the board of directors' payout of N0.45 per ordinary share of 50 kobo each for the 2023 fiscal year.

It's important to know that Section 11 of the Business Facilitation Act allows for virtual meeting conduct, allowing public companies to hold AGMs electronically.

In the meeting, the Board of Directors recommended a full-year dividend of N0.45 kobo per share, or N900 million in return on investment for shareholders, at the AGM of a prominent share registration company listed on the Nigerian Exchange Limited (NGX). The company's shareholders approved the recommendation. 

Addressing stakeholders in the meeting, Chief (Mrs) Eniola Fadayomi, the Chairman of Africa Prudential, said that,

"The Company remains focused on continuous transformation.

"Our total assets grew to N22.9 billion, representing a 19% increase over the previous year's figure of N19.2 billion. This growth is a testament to our priority of meeting shareholders' expectations."

She further added, 

"In line with our transformation journey, the launch of our new investment solution product, INVEARN, a one-stop shop for your capital market needs, highlights how we continue to find new ways to deliver value that creates a positive impact within the capital market space."

On the outlook for 2024, she said, "Africa Prudential is historically a company that has gained brand recognition in share registration, investor relations management, and digital solutions services. We have nearly five decades of exceptional experience in the Nigerian capital market. Our services are technology-driven and highly customer-centric.

"The company is committed to leveraging technology solutions to deepen its customer service experience in 2024, with the expectation of better returns on investment for its shareholders."

The Managing Director/Chief Executive Officer of Africa Prudential, Catherine Nwosu, spoke on the company's achievements and said, "We have made good progress with our ambition by actively pursuing strategic partnerships and collaborations to expand our market reach and offerings.

"We are also forging alliances with leading institutions and industry stakeholders; the company has been able to leverage synergies to access new opportunities across diverse sectors."

She emphasised, "The Nigerian capital market is undergoing a significant shift, emerging as a vibrant hub for companies seeking to raise capital globally. Initiatives such as the commodities exchange, clearing and settlement of exchange-traded derivative instruments, and the National Association of Securities Dealers (NASD) mark the beginning of a new era in our market's evolution. These changes signify increased opportunities for companies to access the funding necessary for growth and success. Our active participation in these groundbreaking initiatives showcases our adaptability and strategic expansion to reach more clients and establish a stronger market presence."

Africa Prudential has unveiled Africa Prudential Place, its recently remodelled state-of-the-art headquarters in Palm Grove, Lagos. The new office space reaffirms Africa Prudential's commitment to all stakeholders. With this new area, the company can fully utilise its innovative spirit and commitment to customer satisfaction, enabling it to continue providing outstanding value to its stakeholders in the financial record-keeping industry.