By InvestAdvocate

Lagos (INVESTADVOCATE)-Niger Insurance Plc, operating in the insurance sector of the Nigerian Stock Exchange (NSE) Monday increased its dividend payout to investors of the company by 20 percent (20%) in its 2012 Financial Year End (FYE).

To report the increase in dividend payout by 20%, the insurance company said it was going to reward its shareholders with a 3 kobo dividend for the review period compared to 2.5 kobo paid in 2011 end.

According to the company, the closure date for the 3 kobo dividend is December 24, 2013 to January 02, 2014.

While it’s Annual General Meeting (AGM) has been scheduled for January 14, 2014 and payment date of the 3 kobo dividend is January 16, 2014.

The insurance company had earlier reported a Gross premium of N10.330 billion in 2012 end compared to N7.809 billion in the same period of 2011; indicating an increase in Gross premium of 32.28%.

Profit before tax  (PBT) declined from N2.492 billion in 2011 end to N703.499 million in review period; showing a decline of 71.76%.

Profit after tax stood at N776.293 million from N2.295 billion, representing a 66% drop in the review period.

However, Niger Insurance shareholders’ fund grew to N7.350 billion in 2012 end from N5.224 billion the previous year, while total assets grew from N19.960 billion in 2011 end to N22.289 billion in 2012 end.