Premium Pension Rewards Shareholders With N1.74bn Total Dividends

Premium Pension Limited (PPL) has rewarded its shareholders with about N1.74billion total dividend even as its Asset Under Management (AUM) rose to N1 trillion at the end of its 2022 financial year end.

The chairman of PPL, Mr. Ibrahim Alhassan Babayo, while speaking at the 18th Annual General Meeting (AGM) of the company held at its corporate head office in Abuja on Tuesday, noted that, in its 2022 financial year, the Pension Fund Administrator (PFA) paid total dividend of N2.65 kobo amounting to N1.740 billion, representing N1.20 kobo interim and N1.45 kobo final dividends of N788.14 million and N952.833 million respectively.

Stating that the dividend payment represented 15th consecutive year in which the company has paid dividends, he added that, the growth in PPL AuM represented a growth of N120.93 billion over 2021 year-end of N879.48 billion, translating to a year-on-year growth rate of 12.08 per cent.

According to him, PPL’s revenue also rose by 18.34 per cent to N10.039 billion from N8.483 billion recorded in 2021, resulting in a Profit Before Tax (PBT) of N3.988 billion, up by 32.99 percent year-on-year, while Profit After Tax (PAT) stood at N2.654 billion, representing 35.51 percent above previous year levels.

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“Today, we celebrate a significant milestone of attaining over N1 trillion Assets under Management (AuM), a momentous achievement that demonstrates our resilience, innovation and commitment. Our collective efforts have enabled us to build a solid company that can withstand market volatility and uncertainty.

“As we reflect on our journey, the success we have achieved today did not come easy. We have had to navigate challenging economic conditions, disruptive technologies, and changing client preferences. Yet, we have remained steadfast in our commitment,” Babayo pointed out.

In his remark, the managing director/CEO, Mr. Umar Sanda Mairami said, the company, as a top tier PFA, will continue to grow and deliver even greater value to its members, shareholders and other stakeholders through consistent premium experience.