AIICO Insurance proposes 2kobo dividend

..Fixes register closing date on 8th-11th May

AIICO Insurance Plc has announced reward to its shareholders for the 2016 financial year ended 31 December, with dividend proposal of 2 kobo per share, subject to shareholders’ approval.

In a recent publication by the Nigerian Stock Exchange (NSE), the company announced that the dividend is approved by shareholders, will be paid to those whose names appear in the company’s register by date of its closure,8th -11th May, 2017, both dates inclusive.

The company disclosed that its Annual General Meeting will hold on May 18, 2017 at a Lekki Lagos hotel, while payment of dividend will be affected on May 19th.

AIICO Insurance Plc, Daily Times recalls recently condemned alleged unethical practice by its agents, reaffirming commitment to sustenance of creation and protection of wealth for its clients.

Aiico’s audited result for the 2016 financial year showed that revenue dropped to N27.1billion, from N32.9billion in the preceding year.Profit before Tax rose to N11.8billion, from N1.8billion in the corresponding year, while Tax rose to N1.6bn from N0.6bn in 2015.

The company’s Profit after Tax stood at N10.2bn, against N1.2bn in the corresponding year, while dividend of 2Kobo declared for 2015 financial year, comes lower than 5Kobo in 2015.

AIICO Insurance was established in 1963, as an insurance, pensions management, and asset management Group in Nigeria with market-leading positions in its key business, Life assurance and annuity, General insurance and special risks, Pension management, Health insurance andAsset management

AIICO also owns valuable financial and strategic assets including a controlling stake in Multisided Limited, and a 19% stake in Healthcare International Limited ,both healthcare management organisations (“HMOs”)), and AIICO Capital Limited ,an asset management wholly-owned subsidiary.