Consolidated Hallmark pays 3kobo dividend
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By ABDUL OLALEKAN
Consolidated Hallmark Insurance Plc has declared three kobo par share totalling N180 million as to its shareholders across the federation. Earlier, the company had paid an interim dividend of N120 million from the half year ended 2015 results.
Disclosing this at the 21st Annual General Meeting, AGM of the insurance firm in Lagos last week, the Chairman, Consolidated Hallmark Insurance, Dr. Obi Ralph Ekezie, said the company was one of the few insurance firms in the country that continue to pay dividend on a yearly basis.
According to him, “Your company has been one of the regular dividend paying insurers in the industry, having made payments four times prior to this meeting in N300 million in 2009: 2008 Account, N180 million in 2011: 2010 Account, N120 million in 2012: 2011 Account and N180 million in 2013:2012 Account. The total payout of N180 million proposed for your approval in respect of the 2015 Accounts will therefore translate to N960 million and five times during our period of stewardship.”
In line with its commitment to the growth of shareholders’ value over the years, he said the firm’s profits have consistently been posted annually except for 2014 financial year where provision was made for impairment charges.
From 2007, after the consolidation exercise in insurance industry, he noted that the company grew from N4.6 billion asset base to N7.02 billion in 2015, even as this was an improvement from N6.13 billion posted in its 2014 financial year.
He stressed that basic and diluted earnings per share in 2015 was 9.10k from N3.22 kobo it recorded in 2014, while profit before tax and exceptional items grew by 182.70 per cent from N193 million in 2014 to N545.81 million in the year under review.
He disclosed that firm has appointed six experienced professionals to fill the vacuum created by the retirement of six directors from the board, listing the new directors to include: Mr. Obinna Ekezie, Mrs. Eziaku Obidegwu, Chief Andrew Odigie, Mr. Joel Avhurhi, Mrs. Adebola Odukale and Prince Ben Onuorah.
Stating that certain strategic measures have been put in place, including the strategic plan to grow the industry, he believes the insurance industry would take its rightful place in the economy.
In the same vein, Managing Director of the insurance firm, Mr. Eddie Efekoha, said the Corporate Social Responsibility initiative of the firm, which is the Annual Essay Competition, has continued to attract the attention of more participants, adding that it was currently in its 5th edition and attracted winners from University of Uyo, Akwa Ibom State. Other social intervention initiatives including periodic provision of succour to motherless babies in orphanage home remain on course, he pointed out.
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