By investadvocate
Lagos (INVESTADVOCATE) – Continental Reinsurance Plc (Continental Re) operating in the Insurance Sector of the Nigerian Stock Exchange (NSE) has proposed a 7.5 Kobo dividend payout to its shareholders in its Audited Period Ended December 2010.
The Company made this affirmation in the Result Announcement Monday April 18 2010 on the Floor of the Nigeria’s Exchange in Lagos Nigeria.
Continental Re said in its Corporate Action to the Exchange that closure date of Register of shareholders whose name appear on the their record is Monday July 11 to Friday July 15 2011; while payment date has been scheduled for Thursday July 21 2011 after its Annual General Meeting (AGM) to be held on Wednesday July 20 2011. However, the Company is yet to announce the venue for the AGM.
From the Profit and Loss information made available to the NSE, Profit After Tax (PAT) of Continental Re grew from N905.217 million in year 2009 to N1.230 billion in the Audited Report for the Period Ended December 31 2010; showing a growth of 35.88%.
While Profit Before Tax (PBT) also increased from N979.814 million in year 2009 to N1.585 billion in the year 2010, representing an increase of 61.77% in the review period.
Gross Premium also rose from N6.502 billion in year 2009 to N10.253 billion in year 2010 end; indicating a rise of 57.69%.
