Prestige Assurance held its Annual General Meeting (AGN) on August 8, 2024, to make resolutions needed in the company for the rest of the year.
In the meeting, shareholders proposed and passed resolutions concerning dividend payments, the appointment of external auditors, and remuneration fixing.
The resolution statement, which was released on the NGX disclosure web page, approved that dividend of 2 kobo per ordinary share of 50 kobo be paid to registered shareholders.
Furthermore, the statement announced that the dividend payment slated for August 9, 2024, will be paid to members whose names are found on the company’s books as of the close of business on July 30, 2024.
According to the report, a proposal to make Deloitte and Touche external auditors of the company was approved by the shareholders present at the meeting.
Selection of the company’s audit committee:
A resolution concerning the election of shareholders who would serve as members of the company’s audit statutory committee was also reached.
Hence, Engr. Olayiwola Tobun, Mrs. Odusote Olatunbosun, and Mr. Senoki Adebayo were selected to serve on the company’s audit committee.
Two directors, Mr. Chandra Prasad and Dr. Nosike Agoke, were also selected to represent the board on the statutory committee.
In addition, the resolution to disclose the remuneration of managers to members was reached.
Q2 results for 2024:
Prestige Assurance witnessed a 41.06% year-over-year growth in revenue in the second quarter of 2024, as revenue surged from N6.2 billion recorded the previous year to N8.8 billion in 2024.
The year-over-year growth in the pre-tax profit of the company rose astronomically by 321.48% as total assets climbed by 42.85% year-over-year.
Reported earnings per share for Q2 of 2024 also grew by 398.3% to N0.21 from N0.04 reported the previous year.