AIICO Insurance offers 1 for 5 bonus to shareholders

AIICO Insurance Plc declared on Friday it would offer one bonus share for every five held by the company’s shareholders by November 30.

“These shares will be issued from the share premium account and are being issued to enable the company to meet up with the new minimum capital requirement as directed by the National Insurance Commission,” the underwriter said in a note published by the Nigerian Stock Exchange (NSE) on Friday.

The closure of AIICO members’ registration takes place from December 1 to December 7, meaning investors, willing to leverage the scrip issue, must purchase and keep the company’s shares before the bonus window closes on November 30.

Shareholders with unclaimed dividend warrants and share certificates that or are yet to be presented for payment or returned for validation are advised to complete the e-dividend registration or contact the Registrar,” the document added.

Read also: Aiico Insurance, Jaiz Bank, Neimeth, Dangote Sugar top Ripples Nigeria stock watchlist

A separate notice signed by Company Secretary, Donald Kanu, revealed that the firm’s annual general meeting would hold on December 8 at Lagos Radisson Blu Hotel in Ikeja.

Shares in AIICO opened trade on the NSE on Friday at N0.95 per share and was up by 9.78 percent at N1.01 during intraday trading.

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