Custodian and Allied Insurance rewards shareholders with 25k
Custodian and Allied Insurance Plc. has proposed a dividend payout of 18 kobo per share for the financial year ended 31st December, 2016.
The company had in September, 2016 settled its shareholders with an interim dividend of seven kobo per share making it a total dividend of 25 kobo per share for the period.
The proposed dividend was approved by shareholders of the company at its 22nd annual general meeting held today in Lagos.
The said dividend would be payable to shareholders of the firm whose names appeared in the company register.
Shareholders at the meeting commended the company for living up its responsibility and maintaining its dividend policy.
Addressing shareholders, the Chairperson of the company, Omobola Johnson stated that Custodian and Allied has maintained its usual practice of rewarding its shareholders by declaring the dividend.
“The company sustained its practice to regularly payment of dividend to the shareholders by paying an interim dividend of seven kobo per share in September, 2016 and following another stellar performance, for the year ended 31st December, 2016, your board hereby proposes, subject to your approval, the payment of an additional 18 kobo per share in respect for the result of the 2016 financial year”, she assured.
The firm within the period under review recorded a gross premium income of N28.3 billion against N23.6 billion recorded in the comparable period of 2015 while investment income grew to N3.8 billion against N2.8 billion recorded in the previous year.
Underwriting expenses increased to N2.4 billion within the period under review compared to N2.2 recorded in the period of previous year, while net claims expenses rose to N13.2 billion against N9.2 billion paid in 2015