News Column

Niger Insurance Offers N270.882 Million Dividend

July 9, 2014

Bamidele Ogunwusi

The directors of Niger Insurance on Wednesday told the management and stockbrokers of the Nigerian Sock Exchange (NSE) that it is recommending a total dividend of N270.882 million, up from N232.184 million in 2012 to its shareholders, which is equivalent to N3.50 kobo per 50k share held as at 31 December, 2013.

Despite the improved dividend, the company, however, recorded a drop in profit when it posted a profit after tax of N 627.425 million from N776,293 million recorded in the comparable period of 2012; gross premiums written grew from N10.330 billion form N10.443 billion; investment and other incomes dropped to N790.542 million from N1.505 billion; while profit before taxation stood at N716.108 million from N703.499 million.

Shareholders fund rose to N8.172 billion from N7.350 billion, insurance contract liabilities climbed to N7.585 billion from N7.074 billion; investment contract liabilities dropped to N4.500 billion from N4.846 billion; total assets rose to N24.752 billion from N22.289 billion; while earnings per share dropped to 8.11 kobo from 10.03 kobo.

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Source: AllAfrica

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