AIICO Insurance Plc declares Bonus shares to be issued to existing shareholders

AIICO Insurance Plc has declared that 12 bonus shares will be issued for every 9 ordinary shares held by existing shareholders for the financial period ended September 30, 2021.

According to a notice filed with the Nigerian Exchange Limited (NGX) and signed by the company’s secretary, Donald Kanu, 8 of the bonus shares will be issued from the share premium account, while the remaining 4 bonus shares will be issued from the retained earnings.

The notice further stated that these bonus shares are being issued to enable the company to meet up with the new minimum capital requirement as directed by the National Insurance Commission (NAICOM).

In order to facilitate the process, the Register of Shareholders will be closed from Wednesday, 24th of November to Monday, 29th of November, 2021.

Shareholders are urged to ensure that their names appear on the Company’s Register of Members as at the aforementioned date and shareholders who are yet to complete the e-dividend registration are advised to download the form on the Registrar’s website, complete the form and submit it to the Registrar or their respective banks.

Furthermore, shareholders with dividend that have remained unclaimed or are yet to be presented for payment have been advised to contact the registrar.

What you should know

AIICO Insurance Plc has reported a 15.84% growth in its Gross premium written to N54.67 billion for the 2021 Q3 Period. Similarly, Underwriting Profit appreciated by 233% to N29.74 billion. During the period, earnings per share (EPS) declined to 15 kobo, decreasing by 66.67% YoY.

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