Amaka. Obiefuna

Consolidated Hallmark Insurance Plc. has approved a total dividend of N120 million for financial year ended 31st December, 2016 to be paid to the shareholders at the rate of two kobo per share.

Mr. Obinna Ekezie, the chairman of Consolidated Hallmark Insurance Plc. Revealed this at the firms Annual General Meeting (AGM), he said the dividend is the firms’ commitment of ensuring that shareholders are handsomely rewarded.

The Chairman also said that “the board is recommending a dividend of N120 million for your approval. This will translate to two kobo per share. This gesture is to further demonstrate the commitment of the company to reward its shareholders in spite of the tough business climate. This dividend is payable to members whose names appeared in the company’s register at the rate of two kobo per share and that translates to N120.

Speaking on the financial performance of the company, the chairman said the firm grew its total assets by six per cent from N7.02 billion in the 2015 financial year to N7.44 billion in the period under review.

He explained that though the firm recorded drop in its profit before tax to N368! Million from N705 million in 2015, a profit after tax recorded N195 million from N 546 million in the comparable period of 2015.