April 4 (Lagos) - The board of AIICO
Insurance Plc ( AIICO
) have proposed a dividend of 5 Kobo per unit for the financial year ended Dec 31 2015. The stock currently trades at 80 Kobo levels so a dividend yield of 6.25% is among the best among Insurance Companies in Nigeria.
During 2015, AIICO
grew its financial assets to N 58.26 billion from N 38.17 billion in 2014. Re-Insurance assets grew to N 2.47 billion in 2015 from N 1.69 billion in 2014. Total assets grew to N 80 billion in 2015 from N 58 billion in 2014.Net assets declined to N 9.37 billion in 2015 from n 11.45 billion in 2015.
AIICO had gross Premium of N 32.91 billion in 2015. Net Premium of N 6.74 billion.
AIICO paid claims of N 13 billion in 2015.
Investment income increased to N 5.7 billion in 2015 from N 3.6 billion in 2014.
Profit before tax for 2015 is N 1.79 billion.
Profit after tax for 2015 is N 1.19 billion.
The dividend of 5 Kobo is something the investors in the Company will notice as management has returned earnings to them after a couple of years without any dividend so expect the stock to move higher.
The most important thing for investors here that AIICO
is the top Insurance Company of Nigeria that paid claims of 13 billion last year and is rewarding its shareholders with a dividend in a tough economic environment.
reporting for easykobo.com on Monday, April 4 2016 from Lagos, Nigeria
If you would like to post comments! Please log in.