Shareholders of Africa Prudential Plc approved the payment of Fifty (50) Kobo dividend per Ordinary Share at the Company’s 6th Annual General Meeting (AGM) held in Lagos on Tuesday.
According to the notice issued by the company, all shareholders whose names appear in the Company’s Register of Members at the close of business on Wednesday, March 13, 2019 qualify for the dividend which is payable same day of the AGM. The company’s audited results for the period ended December 31, 2018, shows that a total of One Billion Naira (N1,000,000) million will be paid to shareholders of the Company as dividends. The Register of Members and Transfer Books was closed from Thursday, March 14 to Wednesday, March 20, 2019—both dates inclusive—for the purpose of updating Register of Members eligible to receive the dividend payment.
In her statement to shareholders, Chairman of the Board of Directors, Chief (Mrs) Eniola Fadayomi noted that despite the challenging operating environment in 2018, the Company ended the year with an impressive performance. The Company recorded a turnover of N4.48 billion, which represents a growth of 35% over the previous fiscal financial year and a Profit Before Tax of N2.39 billion, which represents an increase of 16% over the previous year.
She added that regardless of the challenges facing the Capital Market, some positive trends in recent times indicate an impending rebound in the market and the Company is positioned to leverage the emerging opportunities in 2019.
While presenting his report, the Managing Director/CEO, Mr. Obong Idiong spoke about Africa Prudential’s emerging business lines. He explained that the while advancing its dominance in the registrar business, the Company’s play in the digital technology space is to innovatively leverage technology to create comfort and bring about alluring change through the deployment of digital solutions in strategically selected markets. He confirmed that EasyCoop the company’s automated cooperative management solution has been upgraded with many value-adding features, including exclusive discounts shopping in the EasyCoop Mart which promises to be the largest e-commerce hub for the cooperative community in Africa.
National Coordinator Emeritus, Independent Shareholders Association, Sir Sunny Nwosu, while speaking with the press after the meeting lauded Africa Prudential for always setting the pace with the introduction of innovative solutions which has helped to improve investors’ experience in the Capital Market. Also speaking with the media, National Coordinator, Pragmatic Shareholders Association, Mrs. Bisi Bakare commended the management of the Company for their very forward-looking initiatives, particularly on the automated accreditation management solution. She expressed delight at the convenience the e-Accredit service delivers via USSD *4018#. “When you get to the AGM, you don’t need to join the queue. Your name is already on the accredited list. All you do is present your Ticket ID and you go into the meeting.”