Africa Prudential doubles profit, raises dividend payout

Africa Prudential, a share registration and business solutions provider, says its 2024 Profit Before Tax (PBT) rose from ₦1.44 billion to ₦2.81 billion, a 95 per cent increase.

Managing Director, Catherine Nwosu, confirmed this in a statement issued on Monday in Lagos.

Nwosu said the company’s Profit After Tax (PAT) rose by 88 per cent, from ₦962.9 million in 2023 to ₦1.81 billion in 2024.

She attributed the growth to strong revenue performance and improved operational efficiency.

According to her, gross revenue grew by 31.5 per cent, from ₦3.95 billion in 2023 to ₦5.19 billion in 2024.

She added that total assets rose by 52% to ₦34.84 billion as at December 31, 2024, up from ₦22.98 billion in 2023.

Nwosu reaffirmed the company’s commitment to sustained growth and innovation.

“Our 2024 performance reflects our long-term strategy and ability to adapt in a dynamic market.

“We have doubled profitability and shown shareholders our strong commitment to value creation.

“Next year will be phenomenal as we plan to launch several innovative products and services to improve capital market service delivery.

“We remain focused on delivering superior value to shareholders and expanding capital market solutions across Africa,” she said.

Following its strong 2024 results, the company announced a total dividend payout of ₦1.2 billion.

Nwosu said Africa Prudential paid an interim dividend of 15 kobo per share at half-year 2024.

Investors will now receive a final dividend of 60 kobo per share, totalling 75 kobo for the year, a 67 per cent increase from 45 kobo in 2023.

According to her, with solid earnings, a strong balance sheet, and disciplined management, the company is well-placed for continued growth and market leadership.