Cornerstone Insurance Plc has announced a final dividend of 27 kobo for every share of 50 kobo, to be paid to qualified shareholders.
The announcement was made in a corporate disclosure filed with the Nigerian Exchange (NGX) on July 12, 2025, and signed by the company secretary, PAC Solicitors.
According to the release, the dividend is for the financial year ended December 31, 2024, and will be paid to shareholders whose names appear on the company’s register as of July 7, 2025.
The dividend, which is subject to withholding tax and necessary approvals, will be paid electronically on July 29, 2025.
Cornerstone also highlighted the need for e-dividend registration and encouraged shareholders to complete the process to enable seamless direct payment into their bank accounts.
What to know
- The final dividend of 27 kobo translates to a total payout of N4.9 billion.
- Based on the share price of N3.73, this represents a dividend yield of 7.24%.
- The dividend also reflects a payout ratio of 18.94%
Q1 2025 Performance:
In Q1 2025, Cornerstone Insurance Plc received premiums amounting to N13.8 billion in Q1 2025, up from N9.8 billion in the same period last year.
Meanwhile, claims paid rose to N3.9 billion, compared to N1.2 billion in March 2024, reflecting increased underwriting activity.
On the balance sheet, the company showed strong growth, with total assets rising to N126.5 billion, up from N121.3 billion in the prior period.
- Retained earnings stood at N31.5 billion, slightly below the N32.6 billion recorded previously.
On the income statement, pre-tax profit declined sharply to N1.86 billion, down from N18.1 billion in Q1 2024.
This drop was largely driven by a significant fall in investment return, which fell to N2.4 billion from N18 billion in the previous year, as net foreign exchange gains contracted substantially.
However, the company’s core insurance operations remained strong, with insurance revenue rising to N11.1 billion, up from N7.9 billion in the same period last year.
