APR assures shareholders of better returns, profitability

Chief Eniola Fadayomi

Chief Eniola Fadayomi

African Prudential Registrars Plc has assured shareholders of a higher return on investment in 2016, even as the company’s management received unanimous approval to pay a total dividend of N1.2 billion for the year ended December 31, 2015.

The company declared a total dividend of N1.2 billion that is 60 kobo per share. The sum of 17 kobo, having been paid to shareholders in August 2015 as the interim dividend and a final dividend of 43 kobo.

The Chairman of the company, Chief Eniola Fadayomi while addressing shareholders during the company’s yearly general meeting held in Lagos recently said: “the company’s determination is to sustain its impressive return on shareholders’ investment in 2016 and coming years on current brand repositioning and innovative new product offerings, notwithstanding the arduous business condition.”

According to her, the company vision is to create long-term and sustainable value for its stakeholders and in achieving this, the company is making every effort to identify and take advantage of every investment opportunity that will complement its long-term strategic objectives.

Under the year’s review, she said: “Our financial results indicate that the company’s profit after tax was N1.47 billion, an increase of 19 per cent over that of year 2014.  Basic earnings per share increased by 18.03 per cent to 72 kobo per share from 61 kobo per share in 2014.”

The managing director of African Prudential, Peter Ashade added: “In 2016, we will consolidate our gains in the past to position the organization for improved performance, competitiveness and profitability in the year.

“We will continue to pursue greater cost optimization and effectiveness in the operation, improve products and process innovation to meet the needs of shareholders, clients companies and other stakeholders, zero tolerance for regulatory infraction and sustain the sound corporate governance framework.”

In her statement to shareholders, Fadayomi explained that APR Plc has put strategy in place to provide clear direction for the deployment of its resources.

In order to realise this long-term objective, the Company is making concerted effort to identify and take advantage of every investment opportunity that will complement its goals, adding that the company will place particular emphasis on the deployment of its own software in order to maximise efficiency in the business” she added.

The shareholders commended the management for the impressive results in the year under consideration.

The National Coordinator, Independent Shareholders Association of Nigeria, Sir Sunny Nwosu, said that it was prudent for the company to record significant growth despite challenges in the business environment.

He advised the management of the company not to relent in their efforts of sustaining the company’s growth but ensure that things were put in place to deliver better returns to investors in future.

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