Consolidated Hallmark offers investors N120million dividend

Determined to fulfill dividend promises to investors, Board of Directors of Consolidated Hallmark Plc, paid N120million as dividend to its shareholders on their investment in the bank for the financial year ended 31 December, 2016.

The board proposed dividend of N120million translating to two(2) kobo per ordinary share which was unanimously approved by the shareholders at the meeting.

Speaking on its financial performance for 2016 the Chairman of company, Mr. Obinna Ekezie said
in the year under review the insurer net premium income rose slightly to N3.51billion when compared with N3.19billion in same period of 2015, indicating an increase of 10percent.
He added that cliams payment rose from N1.34billion in 2015 to N1.73billion in 2016, adding that the company met all its claims obligations without a single borrowing.

The company’s total assets grew by six percent to.N7.44billion in 2016 as against N7.02billion

The Chairman, Independent Shareholders Association of Nigeria (ISAN) Sunny Nwosu, Nwosu! said he was happy about the transformation in the company and went further to commend the firm for paying claims promptly adding that paying claims promptly make insurance company strong.

The Managing Director/CEO of the underwriting firm, Eddie Efekoha, said the board and management of the company will continue to work hard to provide good dividend.

He said the company is currently undergoing a digital transformation exercise which will enable it position itself strategically and to also align with its strategic objectives, stressing that the efforts would help the company deliver exceptional returns to shareholders, be profitable and increase its market share, and that this is part of a comprehensive five years strategic plan currently being implemented.