Kayode Tokede

The shareholders of Africa Prudential Plc, yesterday  commended the management for  a dividend payout  of N1.2billion, representing a payout of 60 kobo per share. at its 12th Annual General Meeting (AGM).

The likes of Boniface Okezie, who  is the Chairman of Progressive Shareholders Association of Nigeria, President Pragmatic Shareholders Association, Mrs. Bisi Bakare, among other  shareholders  during the virtual AGM, appreciated the management of Africa Prudential for  paying a total dividend of N1.5 billion for the 2024 financial year amid macroeconomy challenges. 

The management also paid shareholders a bonus of 1-for-1 to increase share capital of the company to N2 billion by creation of additional 2 billion ordinary shares of 50kobo each.

Addressing shareholders, the Chairman of Africa Prudential, Chief (Mrs.) Eniola Fadayomi, noted: “Africa Prudential remains focused on driving strategic growth and transformation. In the past year, we recorded a 52 per cent increase in total assets, rising from N22.98 billion to N34.84 billion.

“This milestone underscores our unwavering commitment to delivering long-term value to our shareholders, even in the face of evolving market dynamics.”

She also spotlighted the company’s continued investment in digital innovation and the shareholder experience:

“As part of our transformation journey, we introduced new innovative products and enhanced the functionality of our digital platform, Invearn. These improvements enabled shareholders to conveniently execute capital market transactions, with over N1.5 billion processed through the platform. We remain committed to building digital-first, customer-centric solutions that redefine ease, transparency, and engagement in Nigeria’s capital market.”

In her remarks, Catherine Nwosu, Managing Director/CEO of Africa Prudential, emphasized the company’s strong performance and strategic focus: “2024 has been a landmark year for Africa Prudential. With an 88per cent surge in Profit After Tax and a 95per cent growth in Profit Before Tax, our performance reflects not just financial strength, but the result of deliberate, focused execution across the business. We have expanded our balance sheet by over 50per cent, introduced innovative product features, and enhanced shareholder experience across all touchpoints.”

She continued, “Our decision to introduce an interim dividend for the first time — followed by a final dividend of 60 kobo, culminating in a total payout of 75 kobo — underscores our dedication to delivering consistent and increased value to shareholders.

“As we move forward, we remain committed to leveraging technology, data, and strategic partnerships to deepen our impact, diversify our offerings, and cement our position as a leader in Nigeria’s capital market transformation.”