Shareholders of Custodian Investment Plc will receive an interim dividend of 15 kobo for the half year ended June 2024.
This was contained in the company’s updated corporate action announcement to the Nigerian Exchange Limited ,NGX, and obtained by AljazirahNigeria.
The dividend is subject to appropriate withholding tax, and will be paid to shareholders whose names appear in the Register of Members as at the close of business on August 16, 2024.
On September 5, 2024, dividends will be paid electronically to shareholders whose names appear on the Register of Members as at August 16, 2024, and who have completed the e-dividend registration and mandated the Registrar to pay their dividends directly into their Bank accounts.
The group had declared and paid final dividend of 65 kobo for every share of 50k each, (bringing the total dividend for the financial year ended December 31, 2023, to 80 kobo), subject to appropriate withholding tax and approval.
Custodian Investment Plc had reported an after-tax profit of N11.7bn for its second-quarter operations.
The company’s half-year interim result at the end of June 2024 shows that it raked in gross earnings of N42bn in the second quarter.
The company grew net income by 136.5 per cent year-on-year to over N18bn in the second quarter, pre-tax profit advanced by 244% to N13.8bn and after-tax profit rose to N11.7bn for the second quarter.
Investment results amounted to N33.5bn at the half year, an increase of 84% year-on-year.
Insurance service revenue grew by 47% to roughly N61bn over the same period while net insurance finance expenses rose by 21.4% to N14.5bn – summing up to gross earnings of N80bn at the half year.
Insurance service expenses slowed down in the half year from a 78% rise in the first quarter to 24.7%, standing at N24.8bn at the end of June 2024.
This reflects the decline recorded in the second quarter. But reinsurance expenses maintained its high growth at 48.6% to N19bn over the period.
The company closed its last trading day on Monday, August 5, 2024 at N12.20 per share on the Nigerian Stock Exchange ,NGX.
Custodian & Allied began the year with a share price of N9.00 and has since gained 35.6% on the price valuation.
