Shareholders Ratify 35 Kobo Dividend Payment

Shareholders Ratify 35 Kobo Dividend Payment
April 8, 2015 Lanre

Lagos, Nigeria, March 8, 2015: Africa Prudential Registrars Plc, Nigeria’s first and only Registrar firm listed on the Nigerian Stock Exchange held her Annual General Meeting of members recently, where shareholders ratified a proposed dividend payment of thirty-five (35) kobo per share.

According to the notice issued by the company’s secretariat, payment of the dividend will be made on April 10, 2015 to all shareholders on the register of members of the company as at the qualifying date of Tuesday, March 17, 2015. The Register of Members and Transfer Books of the Company was closed from Wednesday, March 18th To Friday March 20th (both dates inclusive) for the purpose of updating Register of Members eligible for the dividend payment.

While addressing stakeholders at the meeting, Chairman of the company, Chief (Mrs) Eniola Fadayomi noted in her statement that APR Plc’s dividend policy aims at rewarding shareholders by increasing their wealth, consistently. She explained that a total dividend of Seven Hundred Million Naira (N700,000,000.00) would be paid to shareholders.

The Chairman added that though market performance in the first half of the year showed momentary positive runs, the second half was far less impressive. Despite the inclement operating environment, the company recorded significant gains when compared to the previous year.

While giving the company’s financial results at a glance, the Mr. Peter Ashade, Managing Director/CEO stated that whereas the total assets stood at N18.9billion, having increased by 15% percent from N16.4billion in 2013, group revenue grew by 14% following selective restructuring of the company’s core functions, Investments and product developments to offer a wider range of products at different prices.

The profit before tax grew by 7% percent from N1.2billion in 2013 to N1.3billion in 2014, while the Profit After tax of N0.9billion increased by 33% to N1.2billion in 2014. Earnings Per Share Increased from N0.46k to N0.61k, a 33% growth, while Capital expenditure for the year stood at N25million.

While responding to comments from shareholders, Mr. Ashade reassured that the company remains true to her goal of becoming the leading and dominant provider of share registration services in Africa. “As a result, our focus for the year will be to continue to profitably grow our businesses while providing our clients and stakeholders with appropriate alternative solutions. We will strive to manage our operating costs by optimizing our processes while concurrently improving the level of service delivery to our clients” he added.

It would be recalled that APR Plc equally paid a thirty-five (35) Kobo dividend to shareholders for 2013 financial year, being her first year as a listed company on the NSE.

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