Africa Prudential Plc has reaffirmed its commitment to value creation and innovation with the declaration of a N1.2 billion dividend for the 2023 financial year.
The announcement was made during the company’s 12th Annual General Meeting (AGM), held yesterday, where shareholders unanimously approved a full-year dividend of 60 kobo per share.
The dividend, a testament to the company’s strong financial position and resilience, comes at a time of transformative growth and increased digitalisation within the organisation.
Speaking at the AGM, the Chairman of the Board, Eniola Fadayomi, highlighted the impressive strides Africa Prudential has made in the past year.
She noted that the company recorded a remarkable 52 percent increase in total assets, rising from N22.98 billion in the previous year to N34.84 billion by year-end 2023.
“This milestone reflects our unwavering commitment to delivering long-term value to our shareholders. Despite the challenging and dynamic nature of the market, Africa Prudential has remained focused on its strategic objectives, and we are proud of the progress we have made.”
A central theme of the meeting was the company’s aggressive push toward digital transformation.
Fadayomi underscored Africa Prudential’s continued investment in technology and innovation, which she said was instrumental in improving shareholder engagement and the overall customer experience.
One of the key highlights was the enhancement of Invearn, the company’s proprietary digital platform. The platform, which now enables shareholders to seamlessly execute capital market transactions, processed over N1.5 billion during the year.
“This is more than a technological upgrade, it’s a reimagining of how shareholders interact with the capital market. We’re building a future where ease, transparency, and engagement are the norm, not the exception.”
Managing Director and Chief Executive Officer, Catherine Nwosu, also addressed stakeholders at the AGM, providing deeper insight into the company’s operational performance and strategic direction.
According to Nwosu, 2023 was a defining year for Africa Prudential, driven by solid financial performance and intentional execution of long-term growth strategies. The company achieved an 88 percent increase in Profit After Tax, along with a 95 percent growth in Profit Before Tax.
“Our results are not just numbers on a page; they represent the outcome of a clear, focused strategy and relentless execution. From growing our balance sheet by over 50 percent to introducing innovative product features and elevating the shareholder experience across every touchpoint, we’ve made meaningful progress.”
Looking ahead, the Nwosu reaffirmed Africa Prudential’s ambition to solidify its leadership position in Nigeria’s capital market ecosystem. She stressed that the company would continue to leverage cutting-edge technology, robust data analytics, and strategic partnerships to broaden its offerings and drive impactful innovation.
