• Sunday, May 19, 2024
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Africa Prudential pays N900m dividend, targets core areas for growth

Africa Prudential pays N900m dividend, targets core areas for growth

Africa Prudential Plc, a share registration firm in Nigeria, has paid its shareholders a N900 million dividend for the full year ended December 31, 2023.

At the recent virtual 11th Annual General Meeting (AGM) of the company, its shareholders approved the recommendation of the Board of Directors for a full-year dividend of N900 million, which translates to a dividend payout of forty-five (45) kobo per share.

Read also: Africa Prudential’s initiative empowers 27 software engineers

Addressing stakeholders during the meeting, Eniola Fadayomi, chairman of Africa Prudential stated, “The Company remains focused on continuous transformation, growing its total assets to N22.9 billion, representing a 19 percent increase over the previous year’s figure of N19.2 billion. This growth is a testament to the priority we place on meeting shareholders’ expectations.”

The company shareholders who commented on the company’s performance applauded the dividend payout and the company’s resilience despite the challenges in the operating environment.

Fadayomi 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.”

Catherine Nwosu, managing director/CEO of Africa Prudential, spoke on the company’s achievements. She 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.”

On plans to focus and take advantage of growth opportunities in her core business area, she said “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 mark the beginning of a new era in our market’s evolution.”

She said these changes signify increased opportunities for companies to access the funding necessary for growth and success. Our active participation in these groundbreaking initiatives showcases not only our adaptability but also our strategic expansion to reach more clients and establish a stronger market presence.”

Africa Prudential recently unveiled its newly renovated state-of-the-art headquarters, Africa Prudential Place, in Palmgrove, Lagos. The new office space reaffirms Africa Prudential’s commitment to all stakeholders.