Africa Prudential Plc, a digital technology and investor services firm listed on the Nigerian Stock Exchange (NSE), held its Annual General Meeting last Thursday, March 25, 2021. The meeting was located at Lagoon Restaurant, 1C Ozumba Mbadiwe Street, Victoria Island, Lagos, by 10 am, where a proposed dividend payment of 50 kobo per share was ratified by shareholders.
In line with COVID-19 restrictions, the meeting was held via proxy and streamed live on the company’s website and social media handles.
According to the notice issued by the company’s secretary, the payment of 50 kobo per share is commensurate with the resolution made at the company’s board meeting, which was held on Thursday, February 18, 2021, amounting to a gross dividend pay-out of N1 billion.
While addressing stakeholders at the meeting, the Chairman of the company, Chief (Mrs.) Eniola Fadayomi noted in her statement:
“Despite the challenging operating environment in 2020, our Company recorded a Gross Revenue of N3.5 billion, and Profit Before Tax of N1.98 billion. In response to the disruptive effects of the pandemic, the company activated its business continuity plan to seamlessly offer its services to millions of its customers on its digital channels with no disruption to its operation.”
The Managing Director/CEO, Mr. Obong Idiong, comments on the results: “The transition of the company from its traditional registrar business to a technology business provider – deploying technology to create value in the capital market, financial services investment, hospitality, cooperative and other business sectors – could not have come at a better time. This is evident in the 625 per cent year-on-year growth in digital technology consultancy income.
“The overarching interest of the registrar business has been to continuously deploy new, innovative ways to transform investors’ experience in the capital market. The company achieved 93 per cent total dividend pay-out for its clients in 2020 compared to 89 per cent in 2019 as the company continues to ease the dividend enrolment process for investors.”
Notwithstanding economic realities during the pandemic, Africa Prudential has shown commitment to rewarding its shareholders and increasing their wealth consistently. It is worthy of note that the company has consistently paid dividends to its shareholders since listing in 2013.
The company announced its audited financial statements for the period ended December 31st, 2020, with gross earnings of N3.50 billion and Profit Before Tax of N1.98 billion.