Shareholders of Africa Prudential Plc on Tuesday approved the N800million dividend recommended by the board of directors for the year ended December 31, 2017.
The shareholders gave the approval at the 5th annual general meeting (AGM) held in Lagos. Speaking at the AGM, the National Coordinator Emeritus, Independent Shareholders Association of Nigeria (ISAN), Sir. Sunny Nwosu, hailed the company for declaring the dividend, which translates to 40 Kobo in spite of the various projects the company undertook in the year under review.
“I really want to appreciate the management of this company for its doggedness and hard work in its activities in the past year, which has translated to the payment of 40 kobo dividend, a significant increase from the 30 kobo which we received last year,” he said.
Also speaking, Mrs. Bisi Bakare of Pragmatic Shareholders Association of Nigeria, was full of praises for the management of the company. According to her, shareholders are proud of the achievements of the company especially with the introduction of key products into its bouquets such as Easycoop, E-records, USSD *4018# and VAR. She urged the company to do more to make the shareholders continue to smile in the coming financial dispensation.
Commenting on the financial results for the year under review, the Managing Director/CEO of Africa Prudential Plc, Mr. Peter Ashade said: “Despite the challenging operating environment in 2017, the company ended the year with an impressive performance. The company recorded a turnover of N3.36 billion – a growth of 38 per cent over the previous fiscal financial year – and a profit before tax of N2.06 billion which represent an increase of 43 per cent over the previous year”.
According to him, in 2017, they emphasised the need for diversification of their business portfolio to achieve long term sustainability and viability of their business which necessitated the change of name that was approved at the last AGM.
Ashade disclosed that the company has since commenced implementation of its diversification strategy, reiterating that the new Africa Prudential Plc is still a strong player in the registrars’ business and still intends on remaining a leading registrar firm in Nigeria and grow to become a leader in Africa in the near future. “The company consistently deepens its income base outside registrar operations and investment incomes with aggressive marketing of its bouquet of e-products, such as Easycoop, E-record, USSD *4018# and VAR both in Nigeria and other African countries,” he said.