Shareholders of Africa Prudential Plc have commended the board and management of the share registration company for sustaining its growth over the years, despite challenges in the operating environment.
At the annual general meeting in Lagos, shareholders approved the payment of N1 billion as cash dividend for the 2018 business year, representing a dividend per share of 50 kobo.
Founder and former national coordinator, Independent Shareholders Association of Nigeria (ISAN), Sir Sunny Nwosu, commended the company for always setting the pace with introduction of innovative solutions which has helped to improve investors’ experience in the capital market.
He noted that the company has continued to create value for its shareholders through sustained fundamental growths and returns to shareholders.
National Coordinator, Pragmatic Shareholders Association, Mrs. Bisi Bakare commended the management of the company for their forward-looking initiatives, particularly on the automated accreditation management solution.
She expressed delight at the convenience that the company has created for shareholders through initiatives such as the e-Accredit service delivers via USSD *4018#.
“When you get to the annual general meeting, 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,” Bakare noted.
Addressing the shareholders, Chairman, Africa Prudential Plc, Chief Eniola Fadayomi noted that despite the challenging operating environment in 2018, the company ended the year with an impressive performance.
According to her, the company recorded a turnover of N4.48 billion, which represents a growth of 35 per cent over the previous fiscal financial year and a profit before tax of N2.39 billion, which represents an increase of 16 per cent over the previous year.
She added that regardless of the challenges facing the capital market, some positive trends in recent times indicate impending rebound in the market, adding that the company is positioned to leverage the emerging opportunities in 2019.
Managing Director, Africa Prudential Plc, Mr. Obong Idiong said the company has been developing new business lines to ensure sustained growth and returns to shareholders.
He outlined that while advancing its dominance in the registrar business, the company is into the digital technology space with a view to innovatively leveraging technology to create comfort and bring about alluring change through the deployment of digital solutions in strategically selected markets.
He pointed out 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.