2 Kobo Per Share Dividend Declared By AIICO Insurance Plc

A dividend of 2 kobo per share has been declared by AIICO Insurance Plc, amounting to N732 million in respect of the profit after taxation for the year ended 31st December 2021.

This was disclosed at the resolution reached at the annual general meeting, filed to the Nigerian exchange.

According to the insurer, the amount is payable to those shareholders whose names appear on the register of members at the close of business on the 20th of May 2022 

A profit of N5 billion naira for the year 2021 was recorded by AIICO Insurance Plc, which reflects a slight rise from the N4.8 billion reported the previous year.

Despite the fact that the insurer’s gross premium income increased by 17% from N60 billion to N70 billion during the pandemic period, a cursory look at the result shows that the amount reported as profit was almost flat 

Also, a N5.2 billion profit was recorded for the first quarter of the year 2022, which indicates a 441% increase from the N0.96 billion it reported in the same period last year.