Regency Assurance Plc has declared a final dividend of 3 kobo per 50 kobo share, amounting to N200 million for the financial period ended Monday, December 31, 2018.
The dividends will, on Wednesday June 19, 2019, be paid to shareholders whose names appear on the Register of Members as at Friday, May 10, 2019.
Note that only those who have completed the e-dividend registration and mandated the Registrar to pay their Payment Date dividends directly into their Bank accounts will receive the payment.
The Register of Shareholders will be closed from Monday, May 13, 2019, to Friday, May 17, 2019.
Regency Assurance Plc’s financial results
The company recorded a gross premium income of N5.9 billion in the 2018 financial year, as against N5.4 billion in 2017.
Profit before tax stood at N373 million in the year under review, as against N413 million in 2017. On the other hand, profit after tax stood at N273 million in 2018 as against N275 million in 2017.
Understanding Dividend
A dividend is a payment made by a company to its shareholders, usually as a distribution of profits. When a company earns a profit or surplus, it reinvests a portion of the profit in the business (retained earnings) whilst paying a portion as dividends to the shareholders.
Distribution to shareholders may be in cash (usually a deposit into a bank account) or the issuance of further shares, otherwise known as shares repurchase. But this is usually if the company has a dividend reinvestment plan.
In other words, a dividend is allocated as a fixed amount per share with shareholders receiving a dividend in proportion to their shareholding. For the joint-stock company, paying dividends is not an expense; rather, it is the division of after-tax profits among shareholders.
What you should know about Regency Alliance Insurance Plc
Regency Alliance Insurance Plc provides general insurance products to corporate and individual clients in Nigeria and Ghana. The company operates through Non-life/General Business, Properties & Investment, Retail and Microfinance Banking, and Vehicle Tracking Services segments.
The company is headquartered in Lagos, Nigeria.
Regency Alliance Insurance Plc is currently trading N0.26 on the floor of the Nigerian Stock Exchange (NSE).