Shareholders of Africa Prudential approve N1.2bn dividend

Shareholders of Africa Prudential Plc have approved a N1.2 billion dividend at the company’s 12th Annual General Meeting on Monday, which translates to 60 kobo per share.

In addition to the dividend approval, shareholders also agreed to increase the company’s share capital from N1 billion to N2 billion by creating two billion new ordinary shares, each valued at 50 kobo, along with a bonus share issue of one share for every one held.

During the meeting, the outgoing Chairman of Africa Prudential, Mrs. Eniola Fadayomi, highlighted the company’s achievements, noting, “Africa Prudential remains focused on driving strategic growth and transformation. Over the past year, we achieved a 52% increase in total assets, growing from N22.98 billion to N34.84 billion. This progress reflects our commitment to delivering long-term value to shareholders, even amidst changing market conditions.”

Fadayomi also emphasized the company’s ongoing investment in digital innovation, particularly through its platform, Invearn, which enhanced shareholder experience. “As part of our transformation journey, we introduced new products and upgraded Invearn, enabling shareholders to seamlessly execute capital market transactions. Over N1.5 billion was processed through this platform,” she said. “We continue to prioritize building customer-centric, digital-first solutions to improve transparency and engagement in Nigeria’s capital market.”

The company’s Managing Director and CEO, Catherine Nwosu, also addressed stakeholders, underscoring the company’s strong financial performance. She stated, “2024 has been a milestone year for Africa Prudential. Our profit after tax surged by 88%, and our profit before tax grew by 95%. This strong performance is a result of deliberate execution across the business. We expanded our balance sheet by over 50%, introduced innovative products, and enhanced the shareholder experience.”

Nwosu further explained the company’s decision to introduce an interim dividend, followed by a final dividend of 60 kobo, bringing the total payout to 75 kobo per share. She assured shareholders of their ongoing commitment to delivering increasing value. “We remain dedicated to leveraging technology, data, and strategic partnerships to deepen our impact, diversify our offerings, and solidify our leadership in Nigeria’s capital market transformation,” she said.

In addition, Nwosu spotlighted Africa Prudential’s latest fintech product, Invearn Beta, a platform designed for investors to manage their investments end-to-end. “We have expanded the platform to allow access beyond Africa Prudential’s management and Central Securities Clearing System, enabling investors to access shares across the entire market through APIs,” she explained. “During the last public offer in 2025, many investors used our platform to subscribe to shares, and we had no reconciliation issues.”