Africa Prudential Proposes 40 kobo per share Dividend after 68% Rise in 2017 Profit

By Modupe Gbadeyanka

The board of Africa Prudential Plc has announced the proposed payment of 40 kobo per share dividend to shareholders of the company.

This information was revealed in a notice sent to the Nigerian Stock Exchange (NSE) on Monday and it is for the period ended December 31, 2017.

Also, the firm announced the release of its financial statements, posting a profit after tax of N1.72 billion in 2017 against N1.02 billion in 2016.

In addition, the firm recorded a 37.10 percent growth in its gross earnings to N3.32 billion from N2.42 billion in the corresponding period of 2016.

Furthermore, the company’s total assets closed at N21.93 billion as at December 31, 2017 in contrast to N16.82 billion as at December 31, 2016.

During the period under review, Africa Prudential increased its shareholders’ fund by 52.49 percent to N6.94 billion from N4.55 billion in 2016.

For its Basic Earnings Per Share (EPS), it stood at 86 kobo as at December 31, 2017 against 51 kobo as at December 31, 2016, representing a 68.25 percent rise during the period.

Business Post reports that Africa Prudential’s Return on Assets (RoA) stood at 7.82 percent in the period under review compared with 6.06 percent in 2016, while the Return on Equity (RoE) closed at 24.71 percent in contrast to 22.40 percent.

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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