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APR Shareholders to Receive 35k per share dividend

Africa Prudential Registrars will pay a dividend of 35 kobo per share to its shareholders for the 2014 financial year on Friday, according to a notice by the company.

The company’s shareholders had approved the dividend payment at its Annual General Meeting, which was held recently.

A notice from the company, which is listed on the Nigerian Stock Exchange, said the dividend would be paid on April 10 to all shareholders on the register of the company as of the qualifying date, which was March 17.

The register of members and transfer books of the company was closed from March 18 to March 20 for the purpose of updating register of members eligible for the dividend payment.

The Chairman of the company, Eniola Fadayomi, had been quoted as saying at the AGM that APR’s dividend policy was aimed at rewarding shareholders by increasing their wealth, consistently.

According to her, a total dividend of N700m will be paid to shareholders.

She explained that although market performance in the first half of the year under review had positive runs, the second half was not impressive. Despite the tough operating environment, she said the company recorded significant gains year-on-year.

The Managing Director and Chief Executive Officer, APR, Mr. Peter Ashade, had told shareholders at the AGM that while the total assets stood at N18.9bn, 15 per cent higher than the N16.4bn it recorded in 2013, the group’s revenue grew by 14 per cent following the restructuring of the company’s core functions, Investments and product developments, to offer a wider range of products at different prices.

Specifically, the profit before tax grew by seven per cent from N1.2bn in 2013 to N1.3bn in 2014, while the profit after tax of N0.9bn increased by 33 per cent to N1.2bn in 2014.

The earnings per share also rose by 33 per cent from 46 kobo to 61 kobo.

Ashade had assured the shareholders that the company remained focused to its goal of becoming the leading provider of share registration services in Africa.

He added, “As a result, our focus for the year will be to continue to profitably grow our businesses while providing our clients and stakeholders with appropriate alternative solutions.

“We will strive to manage our operating costs by optimising our processes while concurrently improving the level of service delivery to our clients.”

– Source: Punch.