The Board of Directors of Africa Prudential Plc, Nigeria’s leading registrar and a key player in the capital market, has proposed the payment of N1 billion as dividend to qualifying shareholders of the company.
This is in line with the resolution made at the Company’s Board meeting which held on Thursday, February 18, 2021, as the Board resolved to pay a dividend of 50 Kobo per ordinary share, amounting to N1,0000,000,000 (One billion Naira only).
It is essential to understand that the dividend recommended by AfriPrud’s Board is subject to appropriate Withholding Tax, and the approval of shareholders at the Company’s Annual General Meeting.
What you should know
- The dividend recommended by the board of AfriPrud in 2020 is 28.57% lower when compared to the total dividend of 70 kobo per share paid to shareholders last year for 2019.
- It is important to note that the dividend declared is subject to appropriate withholding tax and the approval of shareholders at the Company’s next Annual General Meeting.
- However, with a share price of N7.3 per share at the close of trading activities on the floor of NSE for last week, the dividend yield of the company stands at 6.85%.
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