Consolidated Hallmark Insurance Plc is to pay out a total dividend of N180 million to its numerous shareholders for the 2015 financial year following the approval received at the recent Annual General Meeting in Lagos. Shareholders who have completed their e-dividend mandates are upon completion of the meeting, being credited.
This translates to 3 kobo dividend per share, having earlier paid out an interim dividend of N120 million from the half year ended 2015 results.
Outgoing Chairman, Ugo (Dr.) Obi Ralph Ekezie, said the company is one of the few insurance firms in the country that consistently pays dividend to its shareholders. He told Shareholders at the event that “your company has been one of the regular dividend paying insurers in the industry, having made payments four times prior to this meeting - N300 million in 2009 from 2008 Account, N180 million in 2011 from 2010 Account, N120 million in 2012 from 2011 Account and N180 million in 2013 from 2012 Account.
The total payout of N180 million approved for payment in respect of the 2015 Accounts therefore translate to N960 million and five times during the nine years of stewardship by the former board.
Ekezie also said that ”in line with its commitment to the growth of shareholders’ value over the years, the firm has consistently posted profits annually except for 2014 financial year where provision was made for impairment charges.
From 2007, after the consolidation exercise in insurance industry, he noted that the company grew from N4.6 billion Asset Base to N7.02 billion in 2015, even as this was an improvement from N6.13 billion posted in its 2014 financial year.