Consolidated Hallmark To Pay 2 Kobo
Directors of Custodian & Allied Insurance Plc, on Monday reported a revenue of N38.55bn, up by N8.76bn or 29.4% from previous year’s N29.79bn, out of which profit before tax stood at N7.39bn, up by N1.66bn or 28.97%.
Net profit improved from N4.2bn to N5.33bn, representing a rise of about N1.13bn or 26.9%.
The board therefore proposed a final dividend of 18 kobo, which when added to the interim payout of 7 kobo per share, brings total dividend of 25 kobo, to those who are shareholders on the qualification date of April 13, 2017, while the register of members would be closed from April 14 to 20.
The final dividend is scheduled for payment on May 3, 2017, same date the annual general meeting holds at the Civic Centre, Victoria Island, Lagos.
Meanwhile, Consolidated Hallmark Insurance reported gross written premium of N5.826bn, down by N213m or 3.52% from N6.039bn in the corresponding period of 2015.
Gross premium earned also fell slightly from N5.875bn to N5.708bn, while net premium earned rose by N319m or 10% and net claims paid to N1.387bn from N958.013m.
Management expenses rose to N1.34bn from N1.168bn, just as underwriting profit dropped by N301m or 21.98%.
Profit before tax and exceptional items dropped more significantly to N368.133m from the previous year’s N704.911m, representing a N336.778m or 47.77%.
Profit after tax fell from N545.811m or N350.824m or 64.27% to N194.987m, representing earnings per share of 3.25 Kobo, up from N545.811m or 9.10 kobo, out of which the directors have proposed a 2 kobo dividend per share.
