Prestige Assurance approves dividend worth N331.3 million to shareholders, set to raise additional capital of N3.4 billion

The Board of Prestige Assurance Plc has approved the sum of N331.3 million as dividends to be paid to shareholders for the period ended December 2020.  This is in addition to a plan of raising an additional capital of N3.4 billion at a price and quantum to be determined by the Directors.

These decisions are part of the resolutions reached during the recently concluded Annual General Meeting of the firm, held on the 26th of May, 2021.

An abstract of the ordinary resolutions reached during the AGM reads: ‘’ A dividend of 02.5k  per 50k ordinary share, amounting to a gross dividend of N331,314,047.20 out of Profit After Tax for the twelve months ended 31st December 2020 be and is hereby declared payable to shareholders whose names appear in the Register of Members as at the close of business on Monday 17th May 2021.’’

Other resolutions reached at the Annual General Meeting include;

  • The appointment of Dr Adedoyin Salami and Mrs Funmi Oyetunji into the company’s Board as Directors were reviewed and approved.
  •  The remuneration of the Non-Executive Directors for the year ending 31st December, 2021 was fixed at N14, 300,000.

What you should know:

  • Recall that Prestige Assurance Plc had earlier reported a profit after tax of N649.66 million in FY 2020.

For more information about the disclosure, click HERE.

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