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BUSINESS & ECONOMY

African Prudential Registrars to Pay N700m Dividend

One year after its listing, Africa Prudential Registrars Plc, one of the leading registrars in Nigerian, is to a pay a dividend of N700 million for the year ended December 31, 2013.

The dividend translates to 35 kobo per share and given the closing price of African Prudential Registrars of N3.93, the dividend indicates a yield of 8.9 per cent.

According to the audited results of the company, a revenue of N1.854 billion was recorded, up 25 per cent from N1.489 billion posted in the corresponding period of 2012.

Profit before tax rose by 26 per cent from N965 million to N1.212 billion, while profit after tax rose grew from N758 million to N914 million. Earnings per share rose from 38 kobo to 46 kobo.

Impressed with the performance and based on its  investor-centric management policy, African Prudential Registrars has  therefore recommended  the 35 kobo dividend.

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