APR Plc’s shareholders endorse N600m dividend, name change

Shareholders’ of Africa Prudential Registrars Plc (APR) have commended the first expansion exercise, even as they approved a total of N600 million dividend, culminating to 30 kobo per share, due to every investor of the firm for the 2012 financial year.

Besides, they approved the firm’s decision to change its company name to Africa Prudential Plc to support the firm’s new business diversification plan. The shareholders’ who spoke on the firm’s fourth yearly general meeting, held in Lagos on Tuesday, also urged the company to improve on its Treasury Bills investments for an increased dividend yield in the current financial year.

Specifically, the President, Pragmatic Shareholders Association of Nigeria, Mrs Bisi Bakare said the steps taken by the firm to expand its operational scope which has culminated to the introduction of EasyCoop Solution is a welcome development that would spur activities in the company.

EasyCoop is a cooperative manager solutions aimed at addressing the challenges of automation, record keeping transparency, accountability and accessibility in cooperative management.

She added that business structural changes have indeed made business diversification imperative for corporate survival and profitability. An independent Shareholders, Nona Awoh stressed he need for the company to intensify efforts on its Treasury Bills investments, noting that with the increase in the investment, the firm must be more proactive to increase its yield.

The Chairman of the company, Chief (Mrs.) Eniola Fadayomi noted that the current economic challenges and the simultaneous realignment in the Nigerian capital market come with some discomfort.

She, however, assured shareholders that the company sees it as an opportunity to reassess its corporate strategy, realign strategic thrust in line with the evolving capital market in Nigeria and Africa, and set the company on the path of long term sustainability while also offering greater value to all stakeholders.

She affirmed the management’s commitment to staying ahead of trends and positions the company for improved competitiveness in the industry. The Managing Director of the company, Peter Ashade, explained that the change of name is a strategic decision to enable the company broadens the scope of its business.

He noted that the Memorandum & Articles of Association of the Company, the Company Seal and other corporate documents would be amended to reflect the change of name.

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