Niger Insurance declares dividend plus bonus
July 28th, 2007 Ogbuotobo Chuks || chuks@stockmarketnigeria.com
By Ogbuotobo Chuks
Widely known as one of the foremost underwriting firms in the country with long years of experience on home soil, Niger Insurance plc has once again lived up to expectation. The company in its full year result ended December 31,2006 made a net profit of N0.58 billion as against N0.28 billion in 2005.
Predicated on the impressive results, the company declared a dividend of N0.15 per share and a bonus of 1 new share for every 4 held. According to the result, gross income for 2006 grew from N2.31 billion in 2005 to N3.14 billion in 2006, representing an increase of 36 percent. Gross profit increased by 132 percent, from N323 million in 2005 to N751 million in 2006.
The news is already impacting on the share price of the stock as it has rallied N1.04 up from N5.11 when the results were released to close at N6.15 in less than a week. The closing date for the register is July 30,2007.
(No Ratings Yet)
Loading ...