Consolidated Hallmark Insurance Plc said it has approved a total dividend of N120 million for its shareholders during the financial year ended December 31, 2016.
The dividend which was approved at the firm’s annual general meeting (AGM) in Lagos, according to the management, would be paid to the shareholders whose names appeared in the company’s register at the rate of two kobo per share and that translates to N120.
Addressing shareholders at the meeting, the Chairman of the company, Mr. Obinna Ekezie assured shareholders of the firm’s commitment of ensuring that shareholders are handsomely rewarded.
“The board is recommending a dividend of N120 million for your approval. This will translate to two kobo per share. This gesture is to further demonstrate the commitment of the company to reward its shareholders in spite of the though business climate. This dividend is payable to members whose names appeared in the company’s register”.
Shareholders also approved the appointment of Mary Adeyanju, Shauibu Abubakar Idris as executive and independent non executive directors respectively.
Speaking on the company’s financial performance, he stated that the firm grew its total assets by six per cent from N7.02 billion in the 2015 financial year to N7.44 billion in the period under review.
Okezie however noted that firm recorded drop in its profit before tax to N368 million from N705 million in 2015 while a profit after tax recorded N195 million from N 546 million recorded in the comparable period of 2015.