By InvestAdvocate
Lagos (INVESTADVOCATE)-Insurer, NEM Insurance Plc on Tuesday proposed a dividedn fo 6 kobo per share to investors for the period ended December 31, 2015.
The 6 kobo per share dividend declared is subject to at the Annual General Meeting (AGM), the insurer said in its corporate action with the Nigerian Stock Exchange (NSE).
A review of the company’s performance shows that pretax profit for the period ended December 31, 2015 declined 66.10 percent to N598.83 million from N1.766 billion recorded a year ago.
Similarly, profit after tax (PAT) of the company dropped 53.21 percent to N713.70 from N1.525 billion reported the same period of 2014.
On the flipside, gross premium grew to N10.895 billion in 2015 end from N9.836 billion posted in 2014 audited year end; indicating a growth of 10.76 percent.
Shares of NEM insurance at the close of Tuesday’s trading on the Nigerian bourse declined 1.23 percent to 0.80 kobo from 0.81 kobo traded the last session; gaining 0.01 kobo per share.
