Africa Prudential declares N1.2bn dividend

Africa Prudential Plc has declared a dividend of N1.2 billion for the year ended Dec. 31, 2024.

The company disclosed this during its 12th Annual General Meeting in Lagos on Monday.

At the meeting, shareholders approved the Board’s recommendation for a full-year dividend of N1.2 billion, representing a payout of 60 kobo per share.

Chief Eniola Fadayomi, Chairman of Africa Prudential, while addressing stakeholders, said, “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.”

Eniola Fadayomi also highlighted 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.

“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,” she said.

Also speaking, Dr Catherine Nwosu, Managing Director of Africa Prudential, emphasised the company’s strong performance and strategic focus.

Nwosu said, “2024 was a landmark year for Africa Prudential, with an 88 per cent surge in Profit After Tax and a 95 per 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 50 per cent, introduced innovative product features, and enhanced shareholder experience across all touchpoints.

“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.”