Leadway Assurance

[muranay@yahoo.com]

Leadway Assurance pays shareholders N10.25 dividend


From an impressive N15 .1 billion gross premium income recorded in 2007 against the N4.9 billion in the corresponding period of 2006, Leadway Assurance Company Limited has declared a dividend of N500 million, translating to N10.25 kobo per share.

After an outward reinsurance premium of N7.7 billion, its net premium stood at N7.4 billion against N4.2 billion in 2007, showing a 78 percent growth.

Disclosing the result during the company’s annual general meeting in Lagos, its chairman, Hassan Hadejia, stated that the increase in direct premium income reflects the moderate advancement in an emerging economy such as Nigeria with increasing level of disposable income and improved access to capital for project financing.

He noted that general insurance business recorded 78 per cent increase in net premium income from N3.5 billion in 2006, to N6.3 billion in 2007, while life business recorded 80 percent increase in net premium income from N614.4 million in 2006 to N1.1 billion in 2007.

This is from Business day of 30th July 2008.

Does anyone in the house knows anything about this company?

[prince dagbolu]

Originally Posted by muranay@yahoo.com

Leadway Assurance pays shareholders N10.25 dividend


From an impressive N15 .1 billion gross premium income recorded in 2007 against the N4.9 billion in the corresponding period of 2006, Leadway Assurance Company Limited has declared a dividend of N500 million, translating to N10.25 kobo per share.

After an outward reinsurance premium of N7.7 billion, its net premium stood at N7.4 billion against N4.2 billion in 2007, showing a 78 percent growth.

Disclosing the result during the company’s annual general meeting in Lagos, its chairman, Hassan Hadejia, stated that the increase in direct premium income reflects the moderate advancement in an emerging economy such as Nigeria with increasing level of disposable income and improved access to capital for project financing.

He noted that general insurance business recorded 78 per cent increase in net premium income from N3.5 billion in 2006, to N6.3 billion in 2007, while life business recorded 80 percent increase in net premium income from N614.4 million in 2006 to N1.1 billion in 2007.

This is from Business day of 30th July 2008.

Does anyone in the house knows anything about this company?

i think they are the second biggest insurance company in Nigeria

[hispy99]

Originally Posted by prince dagbolu

i think they are the second biggest insurance company in Nigeria

Is that N10 dividend that I am seeing?

[prince dagbolu]

Originally Posted by hispy99

Is that N10 dividend that I am seeing?

it looks like N10 to me. When i saw it i pretended it wasn't true.

[waaan5]

Originally Posted by prince dagbolu

it looks like N10 to me. When i saw it i pretended it wasn't true.

That's what you get if you did not dilute your shareholders funds (and thus have less outstanding shares) that many listed insurance companies did in the re-capitalization excercise.

[Apache]

could have sworn that there's already an existing thread for leadway

[hispy99]

Originally Posted by Apache

could have sworn that there's already an existing thread for leadway

could not find another one using the search engine...

[pegheneji]

Originally Posted by prince dagbolu

i think they are the second biggest insurance company in Nigeria

in as much as i am not doupting you, i am sure there is a mistake some were because for a total divident of N500m to translate to N10.25 it means they have less than 50m unit of shares which i know is not true. can any one in the house help to find out its share volume?

[muranay@yahoo.com]

Originally Posted by pegheneji

in as much as i am not doupting you, i am sure there is a mistake some were because for a total divident of N500m to translate to N10.25 it means they have less than 50m unit of shares which i know is not true. can any one in the house help to find out its share volume?

I do not think that they are qouted on NSE.

[pegheneji]

Originally Posted by muranay@yahoo.com

I do not think that they are quoted on NSE.

i know they are not quoted but you said from a total dividend of N500m, each person will be getting over N10. it will only be possible if the unit is less that 50m because 500/50 is 10