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NEM Insurance declares N792m dividend

NEM Insurance declares N792m dividend

NEM Insurance Plc has proposed a total dividend payout of N792.075 million translating to N0.15 per share for Full Year 2019.

This follows the release of the company’s Unaudited Interim Financial Report for the Year Ended 31st December 2019, which saw the firm’s after-tax profit expand by 74% to N3.516 billion.

According to the underwriter’s notice to the Nigerian Stock Exchange (NSE) Thursday, the dividend is subject to the endorsement of shareholders and payable to those whose names appear on the company’s register of members at the close of business on 30th April 2020.

Read also: Nigerian banks may be worst hit by oil price plunge, coronavirus – Fitch Ratings

Shareholders’ register is to be closed between 4th and 8th May 2020, preparatory to dividend payment.

Investors desiring to benefit from the cash reward must have NEM Insurance’s stocks in their portfolio on or before the qualification date, 30th April 2020.

With outstanding shares in the region of 5.281 billion, NEM Insurance’s Price to Earnings Ratio currently stands at 3.11.

NEM Insurance opened trade on the floor of the NSE Friday at N2.07 per share.

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