AFRICA PRUDENTIAL RECORDS 43% GROWTH IN PROFIT, PROPOSE 40 KOBO DIVIDEND PER SHARE

AFRICA PRUDENTIAL RECORDS 43% GROWTH IN PROFIT, PROPOSE 40 KOBO DIVIDEND PER SHARE
March 2, 2018 Lanre

Africa Prudential Plc, Nigeria’s foremost Registrar and investor services firm, this week, announced its Audited 2017 Full Year Financial Results, showing a turnover of N3.37 billion and profit before tax of N2.07 billion—representing a 42% growth over prior year—for the year ended 31 December 2017. The Company delivered an annualized Earnings Per Share of 86 Kobo and declared a Dividend of 40 Kobo per Share, while a dividend payment of forty (40) Kobo per Ordinary Share has been proposed.

According to a statement issued by the company’s secretariat, payment of the dividend if ratified by shareholders at the up-coming Annual General Meeting, will be made on March 27, 2018 to all eligible holders of Ordinary Shares on the register of members of the company as at the qualifying date of March 12, 2018. The Register of Members and Transfer Books of the Company is closed from Tuesday, March 13 to Monday March 19, 2018 (both dates inclusive) for the purpose of updating Register of Members eligible for the dividend payment.

Commenting on the financial results, Mr. Peter Ashade, the Managing Director/CEO of Africa Prudential Plc, said that “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% over the previous fiscal financial year—and a Profit Before Tax of N2.06 billion which represent an increase of 43% over the previous year”.

He further stated that “In 2017, we emphasized the need for diversification of our business portfolio to achieve long term sustainability and viability of our business which necessitated the change of name that was approved at the last Annual General Meeting. I am happy to report that the change of Name from Africa Prudential Registrars Plc to Africa Prudential Plc was duly completed in 2017 and we have commenced implementation of our diversification strategy. Worthy of note is the fact 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”.

It would be recalled, among others that the company was named the Best Registrar Firm in West Africa by Africa-Canada Trade Alliance at the 7th Edition of the West Africa Innovation and Excellence Awards in 2017 in recognition of outstanding innovations and advocacy role in the Capital Market.

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