African Prudential declares N900m dividend, unveils new investment product

African Prudential Plc has declared N900 million dividends translating to 45 kobo per share due to every shareholders of the company for the 2023 financial year.

Besides, the company also unveiled INVEARN, an innovative investment product that would enable it remain well positioned to stay ahead of trends in the industry

Addressing shareholders at the yearly general meeting of the company held in Lagos, yesterday, the Chairman of Africa Prudential, Chief (Mrs) Eniola Fadayomi, said the company was poised to continue in its transformation exercise and deliver value to shareholders.

He said the company’s total assets grew to N22.9 billion, representing a 19 per cent increase over the previous year’s figure of N19.2 billion, noting that the growth is a testament to the priority placed on meeting shareholders’ expectations.

“In line with our transformation journey, the launch of our new investment solution product, INVEARN, a one-stop shop for your capital market needs, highlights how we continue to find new ways to deliver value that creates a positive impact within the capital market space.”

Managing Director/Chief Executive Officer of Africa Prudential, Catherine Nwosu, said: “We have made good progress with our ambition by actively pursuing strategic partnerships and collaborations to expand our market reach and offerings.

“We are also forging alliances with leading institutions and industry stakeholders; the company has been able to leverage synergies to access new opportunities across diverse sectors.”

According to her, the Nigerian capital market is undergoing a significant shift, emerging as a vibrant hub for companies seeking to raise capital globally.

She pointed out that initiatives such as the commodities exchange, Clearing and settlement of exchange-traded derivative instruments, and the National Association of Securities Dealers (NASD) mark the beginning of a new era in the firm’s market’s evolution.

Nwosu added that these changes signify increased opportunities for companies to access the funding necessary for growth and success.

“Our active participation in these groundbreaking initiatives showcases not only our adaptability but also our strategic expansion to reach more clients and establish a stronger market presence.

“Africa Prudential recently unveiled its newly renovated headquarters, Africa Prudential Place, in Palm grove, Lagos. The new office space reaffirms Africa Prudential’s commitment to all stakeholders. By creating a space where the company can fully leverage its innovative spirit and dedication to customer satisfaction, the company is well poised to continue in its delivery of exceptional value to its stakeholders in financial record-keeping,” she said.

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