BY NKECHI NAECHE-ESEZOBOR— Consolidated Hallmark Holdings Plc grew insurance revenue by 32 percent for the financial year 2023 from N11.9billion in 2022 to N15.7billion in the year under review.
This was disclosed during its inaugural Annual General Meeting, held today in Lagos, by the chairman of the company, Shuaib Abubakar Idris, that total assets of the company recorded a significant leap to N26.2billion when compared with the N18.2billion of 2022, a significant 44% growth in the total assets of the Company.
Profit Before Tax for the year rose to N4.6billion from the N983million in 2022 while total profit attributable to shareholders for the 2023 financial year is N3.8billion from N547mlion in 2022.
On dividend payment, he said “we are commitment to adequate returns on investments to our shareholders through consistent dividend payment remain firm and we shall stay focused on that pathway. Towards this end, we wish to hereby present to you for your consideration and approval, a dividend of N0.05 or 5 kobo per ordinary share of 50 kobo. The total dividend payout will amount to N542 million.
The amount payable, as usual, is subject to the appropriate Withholding Tax. Upon your approval of the dividend proposed, bank accounts of qualifying shareholders who have updated their records with the Registrars shall be credited beginning from the end of this meeting.
On future outlook, he said: “your Company, though a Nonoperating Holdings Company shall strive to effectively carry out its primary functions of maintaining control over the subsidiaries, establishing additional investments in diverse sectors where the opportunities arise, protecting the assets of the Group and providing strategic direction. We have assembled a Board made up of experienced business leaders. Permit me to use this opportunity to welcome the new Board Members joining the Group for the first time both at the Holding Company and the Subsidiary companies. I also wish to note that we have a good balance of old and new Members. This is deliberate as it ensures stability while at the same time engendering fresh ideas to create the future we seek.
“We remain optimistic of a more friendly operating environment in the years ahead, which we hope to take full advantage of and increase the market share of our member companies in all sectors where we are operational.”
He said the use of technology remains pivotal in our quest to continually consolidate our operations as one of the top players in the financial services sector and beyond.
