Afriprise Investment proposes 40pc dividend increase
DAR ES SALAAM: THE Afriprise Investment Board of Directors has proposed a dividend of 18/- per share for the last financial year, up from 13/- per share the year before.
The proposed dividend represents 77 per cent of the company’s profit after tax and is subject to shareholder approval at the upcoming Annual General Meeting (AGM).
Afriprise Chairman, Mr Fortunatus Magambo, said the proposed dividend underscores the company’s financial strength and commitment to delivering consistent shareholder value.
“This proposal reflects our confidence in the company’s performance and our dedication to rewarding shareholders,” he said.
Mr Magambo attributed the growth to improved operational efficiency and favourable capital market conditions, which enhanced dividend and interest income, as well as gains from securities trading.
Despite strong financial performance, Afriprise’s earnings per share (EPS) slightly declined to 23.3/- due to the issuance of additional shares at the end of 2023, which increased the weighted average number of shares in circulation, explained Board Chairman Mr Fortunatus Magambo.
ALSO READ: Afriprise upholds similar dividend as profit rises slightly
According to the audited financial statements, the company’s investment portfolio grew by 19 per cent to 49.5bn/-, reflecting Afriprise’s focus on strategic diversification and effective asset allocation.
Equity investments rose to 30.9bn/- in 2024 from 25.3bn/- the previous year, indicating strong market positioning and asset growth.
Investments in government securities also edged up to 15.6bn/- from 15bn/- , highlighting a continued focus on stable, low-risk instruments.
In contrast, loans receivable fell to 47.9m/- from 73.1m/-, signalling a more conservative lending strategy.
Mr Magambo said the results underscore the company’s resilience and strategic foresight in navigating market dynamics.
“With continued emphasis on operational efficiency, portfolio diversification and prudent risk management, we are positioning Afriprise for sustainable, long-term growth in Tanzania’s investment landscape,” he added.
