Tag: Linkage Assurance Plc

Linkage Assurance Plc released its earnings forecasts for the fourth quarter of the year (Q4, 2021).

• Gross Premium is projected to hit N1.13 billion.
• Net claims projection of N336.7 million.
• Net operating income is projected at N1.76 billion.
• Profit before tax is projected at N640 million
• Tax is projected at N16 million
• Profit after tax is projected at N624 million.

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Linkage Assurance Plc released its earnings forecasts for the third quarter of the year (Q3, 2021).

• Gross premium was projected at N2.07 billion.
• Net claims projection of N495.5 million
• Net operating income was projected at N2.2 billion.
• Underwriting and management expenses projection of N1.47 billion.
• Tax was projected at N36.9 million.
• Profit after tax was projected at N700.84 million.

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The Board of Linkage Assurance Plc has proposed a final dividend of N500 million and a bonus issue to existing shareholders of the company for the period ended 31st December 2020.

The company’s Board made this announcement in a notification published on the website of the Nigerian Exchange Group Plc (NGX), stating that a dividend of 5 kobo per share will be paid on all the issued 9,999,999,994 ordinary shares of the company.

In addition to the payment of the cash dividend of 5 kobo per share, shareholders will also be issued a bonus of 2 (two) new shares for every 5 (five) existing shares held in the company, amounting to N2 billion.

Qualifying conditions

The following conditions must be met by shareholders, to benefit from the recent bonus issue and dividend;

• Only shareholders, whose names appear in the Register of Members at the close of business on the 30th of April, 2021 will be considered.
• Shareholders must have completed the e-dividend registration and must have mandated the Registrar (Centurion Registrars) to pay their dividends directly into their bank accounts.
• For the purpose of the dividend payment, the Register of Shareholders will be closed from 3rd to 10th of May, 2021

Sequel to the aforementioned points, the dividend will be electronically paid to qualified shareholders on the 26th of May, 2021.

What you should know:

• Linkage Assurance Plc had earlier declared a profit after tax of N2.4 billion in FY 2020, and consequently proposed a final dividend of 5 kobo per share.
• It is pertinent to note that the firm did not declare any cash dividend last year. However, it announced a bonus issue of 1 (one) share for every 4 (four) shares held by existing shareholders, amounting to N1 billion in the same period.
• Therefore, the recent bonus issue is 50% higher than what was declared in the preceding year.
• Linkage Assurance shares is currently trading at 80 kobo as at the period of reporting this.