African Prudential Plc Financial Year End 2016 Result Summary
| 12 Months Report AFRICAN PRUDENTIAL PLC | ||||
| 2016 N'000 |
2015 N'000 |
change | Year End | |
| Revenue | 2,447,717 | 2,575,616 | -5% | December |
| Profit before taxation | 1,445,936 | 1,629,361 | -11% | |
| Profit for the period | 1,019,173 | 1,447,937 | -30% | |
| Issued Shares (Units) | 2,000,000,000 | 2,000,000,000 | ||
| Basic Earnings Per Shares (Kobo) | 51.00 | 72.00 | -29% | |
| Last total dividend paid (Kobo) | 30.00 | 43.00 | -30% |
The Company declared a dividend of 30k compared to the sum total of 60k paid the precious year, broken down to 17k interim and 43k full year payment.
A closer look at the report shows that SEC policy on dividend is working and the Tax man threat is yielding dividend. These two heads were more or less the deciding factor i.e,
Net Income from Investment declined by 12.29% while Income Tax increased by 135.23% thereby knocking them out of stride.
The market will tomorrow determine the place of the stock with a current dividend yield of 9.84% at the close of business today, 23rd February 2017.
It is assumed that the price would declined to around 12% dividend yield for the stock to be attractive.
As I mentioned with respect to United Capital Plc, the first quarter result will determined if the stock would not slide below N2.50k.
Let the show start.
The Show has started, the reaction of the Market was such that the yield was not attractive. the stock has declined to N2.85k today, however trading activity is still on. it is assumed that it would declined more, to around 12% dividend yield.
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