fbpx
[ MAIN ]INSURANCE & PENSIONSNEWS

Trustfund Delivers N230m to Shareholders, Confirms Acting Managing Director

This is a good time for Shareholders of Trustfund Pensions Plc, as the board of the institution has announced a dividend pay-out of N230 million for the year 2012, with shareholders receiving 23 kobo per N1 share compared to the 15 kobo they received in 2011.

Chairman of the Board of Directors of Trustfund Pensions Plc, Mrs. Ngozi Olejeme, made the announcement of the dividend boost for shareholders, last weekend, at the annual general meeting in Abuja.

The board also confirmed the appointment of the Acting Managing Director, Mrs. Helen Da-Souza, as substantive chief executive. She is the first woman to head Trustfund Pensions Plc.

According to Olejeme, the company remains committed to delivering superior returns to its shareholders by ensuring that a good portion of profit is set aside for them and valued investors. “Total operating income was N3.308 billion for the year ended, representing a 52.44% increase over the previous year’s figure of N2.170 billion. Profit after tax similarly rose from N534.69 million in 2011 to N788.52 million in 2012. During the same period, total assets of the company grew by 30.8%, from N2.892 billion to N3.784 billion, while shareholders’ fund rose by 31.44% from N1.993 billion to N2.620 billion,” she announced.

She also revealed that despite the successes recorded, the growth rate in the pensions industry remains slow mainly due to the lack of compliance by employers and the slow pace of implementation of the contributory scheme by state governments.

Nigeria Labour Congres, NLC; Trade Union Congress, TUC; and Nigeria Employers Consultative Association, NECA, who are major shareholders of Trustfund Pensions, have expressed delight at the news of the boost in dividend.

Source

About Author

BWN
This is BizWatchNigeria. Nigeria's first online business Newspaper.

Comment here

This site uses Akismet to reduce spam. Learn how your comment data is processed.