Shareholders of Consolidated Hallmark Insurance Plc have approved a total dividend payment of N120 million for fi nancial year ended 31st December, 2016. Th e dividend which was approved at fi rms annual general meeting in Lagos, would be paid to the shareholders whose names appeared in the company’s register at the rate of two kobo per share. Addressing shareholders at the meeting, the Chairman of the company, Mr Obinna Ekezie assured the fi rms commitment of ensuring that shareholders are handsomely rewarded “Th e board is recommending a dividend of N120 million for your approval.
Th is will translate to two kobo per share. Th is gesture is to further demonstrate the commitment of the company to reward its shareholders in spite of the though business climate. Th is dividend is payable to members whose names appeared in the company’s register”. Shareholders as well approved the appointment of Mary Adeyanju, Shauibu Abubakar Idris as executive and independent non executive directors respectively.
Speaking on the company’s fi nancial performance, he stated that the fi rm grew its total assets by six per cent from N7.02 billion in the 2015 fi nancial year to N7.44 billion in the period under review. Okezie however noted that fi rm recorded drop in its profi t before tax to N368!million from N705 million in 2015 while a profi t after tax recorded N195 million from N 546 million recorded in the comparable period of 2015.