Abuja -Trustfund Pension PLC on Friday declared a profit after tax of N1.1 billion for the year ended December 31, 2014.
The Board Chairman, Mrs Ngozi Olejeme, disclosed this during the 7th Annual General Meeting (AGM) of the company in Abuja.
Trustfund Pension is one of the pension fund administrators (PFA) licensed to operate in the nation’s pension industry.
Olejeme, represented by Mr Peter Esele, a Director in the company, said the company generated an income of N4.2 billion for the year 2014.
She said the profit before tax stood at N1.34 billion.
the chairman said the company had also declared a 25 kobo ordinary share dividend for the 2014 financial year for members whose names appeared in the company’s register as at December 31, 2014.
She said the company had also declared the same dividend of 25 kobo in the year ending 2013.
Olejeme said despite difficult business environment the company operated on in the year 2014, it was still able to maintain the same dividend.
She said that in a bid to reposition the company to add value to stakeholders, the board took the decision to strengthen the share capital by way of rights issue to existing shareholders.
She said an additional share capital of up to N1.2 billion would be raised through right issue.
She also said that subject to the approval of the regulatory authorities, the board of directors had been authorised to issue and allot rights or shares not taken up by shareholders.
Olejeme said the additional fund to be raised would be utilised in building a world class institution capable of achieving set growth and targets.
“I strongly believe we have built a robust foundation that will support our continuous growth.
“We have demonstrated our capabilities across products and services, customer segment, investment and market alignments, ‘’ she said.
She said the company would focus on developing a marketing strategy focused on the transfer window.
Olajeme said in a bid to ensure continuous financial growth, the management would expand and deepen its investment capabilities, as well as create an enabling environment for its workforce.
She thanked the numerous customers of the company for their unalloyed loyalty and support.
Olejeme commended the board management, staff and shareholders for their various commitments in driving the vision of the company. (NAN)