INSURANCE sector comes up with DIVIDENDS   

May 29 (Lagos) - There was a slew of 2023 full year earnings announcements today from the Insurance sector after the deliberations and approvals at NAICOM were completed. We received 2023 full year results from eight companies today and 5 out of those have proposed dividends for their shareholders. 

This is significant because this sector has disappointed investors for a very long time and they will be hoping that there will be some re-valuation of the sector based on these results and dividend announcements. 

Companies that have proposed dividends so far are as follows:

AIICO - 5 kobo 
NEM - 60 kobo 
SOVRENINS - 3 kobo 
SUNUASSUR - 5 kobo 
CONHALLPLC - 10 kobo

We await more results from the Insurance sector from the likes of CUSTODIAN Insurance. The sector remains possibly the last frontier where the bull market failed to touch like it did to the Banking, consumer goods, oil and gas and mining sectors. 

reporting for on Wednesday, May 29 2024 from Lagos, Nigeria

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