Africa Prudential Plc has released its audited financial statements and independent auditor’s report for the year ended December 31, 2020. Summary of the performance of the company during the review year shows gross earnings decreased by 10.18percent to N3.508billion from a high of N3.906billion in 2019.
The company’s full year results at the Nigerian Stock Exchange (NSE) show operating expenses of N1.566billion in 2020 declined by 8.42 percent from N1.710billion reported in 2019.
Profit before income tax expense (PBT) of N1.980billion in 2020 came down by 17.12percent from N2.389billion reported in 2019; while profit after tax (PAT) of N1.446billion in 2020 represents a dip by 13.98percent from N1.681billion in 2019 financial year.
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The Board of Directors of Africa Prudential Plc recommended the payment of a gross dividend of N1billion (N1.4billion in 2019) that is 50 kobo per share payable to shareholders on the Company’s Register of Members as at March 5, 2021. The dividend is subject to the deduction of appropriate withholding tax.
The Register of Shareholders will be closed from March 16, 2021 to March 20, 2021. Qualification date is March 15, 2021. In terms of significant shareholding (5percent and above), the company’s register shows that International Equity Capital Limited is the largest shareholder in Africa Prudential Plc with 519,000,000 units of share.
The N5.80kobo the share price closed on Tuesday March 2 represents a decline of 7.2percent year-to-date (YtD).
On March 26, 2021 the dividends will be paid electronically to shareholders whose names appear on the Register of Members as at March 15, 2020 and who have completed the e-dividend registration and mandated the Registrar to pay their dividends directly into their Bank accounts.
Africa Prudential Plc primarily carries on the business of registrar and investor relation service. As part of its business diversification strategy, it has expanded its business activities to provision of digital solutions for businesses.
Its flagship digital solutions product known as EasyCoop is a unique software, which is aimed at aiding the administration of Cooperative Societies in Nigeria and other digital business solutions.
