Nigeria-listed AXA Mansard to pay $2.2m in 2023 dividend

AFRICAN STOCKS AND FINANCEJuly 16, 2024 at 4:46 PM UTC

TLDR

Shareholders of AXA Mansard in Nigeria to receive N3.6 billion ($2.2 million) total dividend for FY 2023.
Dividend amount equivalent to 40 kobo per N2 share, split into 6 kobo interim and 34 kobo final dividends.
Final dividend payment set for August 8, 2024, contingent on authorities' approval and e-dividend registration by July 15, 2024.

Shareholders of AXA Mansard in Nigeria will receive a total dividend of 40 kobo per N2 share, amounting to a total dividend of N3.6 billion ($2.2 million) for the financial year ended December 2023 declared by the group.

Of this total, 6 kobo per N2 share was paid as an interim dividend in December 2023. The remaining 34 kobo per N2 share will be distributed as the final dividend, pending approval from the relevant authorities and subject to withholding tax.

The final dividend will be paid electronically on August 8 to shareholders whose names appear on the Register of Members as of July 15, 2024, and who have completed the e-dividend registration and mandated the Registrar to pay their dividends directly into their bank accounts.

Key Takeaways

The company recorded a 23% year-on-year growth in claims, influenced by a 137% increase in non-life premiums written, reaching N35.199 billion, which constitutes 54.5% of the N64.640 billion in gross premiums written. According to Nairametrics analysis, this likely contributed to the moderation in the insurance service results to N4.703 billion in Q1 2024. However, the company reported an impressive bottom-line performance, primarily driven by foreign exchange gains. In Q1 2024 alone, a substantial FX gain of N12.805 billion boosted the pre-tax profit to N15.320 billion. Without this windfall, the pre-tax

Axa Mansard

Stocks

Dividends

NGX

Nigeria

Investments

Finance

Personal Finance