A non-bank financial institution with investments in life and non-life insurance, pension fund administration, trusteeship and property holding businesses, Custodian and Allied Plc, has declared its audited result for the year ended 31st December 2017.
The group’s revenue rose from N38.551 billion to N43.052 billion in 2017. Operating expenses stood at 29.988 billion, compared with N25.899 billion in 2016. Profit before tax improved from N7.89 billion to N8.933 billion, while profit after tax rose by 37 per cent from N5.3 billion achieved in 2016 to N7.3 billion.
The directors have recommended the payment of a final dividend of 32 kobo for every 50 kobo ordinary share.
The non-financial institution had recently paid an interim dividend of 10 kobo per share, bringing the total to 42 kobo per share. The company has consistently paid dividends to its shareholders every year for the past 20 years.
According to the Chairman of Custodian & Allied Plc, Mrs. Mobola Johnson, the company’s management continued to deploy the group’s assets professionally, prudently and profitably within the dictates of the evolving local and world economies to ensure the safety of its insurance / investment client’s fund and not to erode shareholders’ value
Johnson revealed that the company formally constituted its social responsibility foundation in 2016, saying that the company fully renovated, refurbished, computerized and stocked the Lags State Public Library at Ilupeju.
“The unprecedented effort of the foundation, which is in line with our commitment to the societies in which we operate, was lauded by the state government and is being used as a template for further corporate social responsibility activities in the state,” she stated.
