By Nkiruka Nnorom

Shareholders of African Prudential Registrar, APR, have approved the payment of N600 million gross dividend, which translates to N0.30 per ordinary share of 50 kobo each for the year ended December 31, 2016.

The shareholders also passed the resolution to change the name of the company to ‘Africa Prudential Plc’

In his address at the company’s 4th Annual General Meeting, AGM, in Lagos, Mr. Peter Ashade, Managing Director/CEO, APR, explained that the change of name is a strategic decision to enable the company broaden 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. He added that once the change of name is perfected at the Corporate Affairs Commission, and all relevant constituted authorities duly notified, the company would roll out implementation of the new name on her brand identity and across its branch networks.

In her statement to shareholders, the chairman, Chief (Mrs.) Eniola Fadayomi, assured investors that, although the current economic challenges and the simultaneous realignment in the Nigerian capital market comes with some discomfort, 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.