Mutual Benefits Assurance to pay interim dividends
June 1st, 2007 Ogbuotobo Chuks || chuks@stockmarketnigeria.com
By Ogbuotobo Chuks
Mutual Benefits Assurance Plc is to pay interim dividends to its shareholders in September this year as a mark of the company’s impressive performance over the years.These were the words of the Managing Director of the company, Mr. Akin Ogunbiyi, who made the promise in Lagos on Thursday.
He said that the first installment of the dividends put at N8bn, would be paid in September, while the balance would be received by the shareholders after its annual general meeting later in the year.Also at the meeting, the company unveiled its new logo.
The MD also affirmed that the time had come for the insurance firm to take its leadership position in the insurance sector in Nigeria.Also, he said that the company had secured the interest of strategic foreign investors –the Augustus Group- which currently held a 25 per cent stake in the company.
The chief executive said that apart from being part owners of Mutual Benefits Assurance, which was now called MBA Plc, the Augustus Group, which was made up of professional insurers from the United States of America, was also a technical partner.
The MD also said MBA Plc had invested heavily on asset management, real estate and other ventures that could improve its fortunes.He said that the board of the firm had approved the plan for listing on the London Stock Exchange in the next three years, adding that Mutual Benefits would soon register its presence in the Gulf of Guinea.
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