Cornerstone Insurance Shareholders Applaud, Demand Improved Dividend

The shareholders of Cornerstone Insurance Plc have applauded the dividend payment of 5 kobo per ordinary share of 50 kobo paid by the insurer in its 2021 financial year, while calling for improvement in dividend payment in the current accounting year(2022).

The shareholders, who spoke at the company’s annual general meeting (AGM) which held physically and physically in Lagos recently, urged the board to ensure they give more values to shareholders and investors in the subsequent years ahead.

A reputable shareholder, Nona Awo, while appreciating the efforts put in place by the board to generate a Gross Premium Income (GPI) of N20.9 billion and 5kobo dividend declared, urged the board to improve in the area of giving good returns on shareholders’ investment.

Similarly, the president, Nigerian Shareholders’ Solidarity Association (NSSA), Timothy Adesiyan, applauded the firm for an outstanding financial performance amid the economic headwinds, even as he gave kudos to the management of the firm for providing jobs for qualified Nigerians.

On his part, the chairman, Independent Shareholders Association of Nigeria (ISAN), Anthony Omojola, appreciated the firm for the dividend payout at a time most companies are not thinking of shareholders’ welfare.

Earlier, the chairman, Cornerstone Insurance Plc, Segun Adebanji, applauded the shareholders for their continuous support towards the growth of Cornerstone Insurance, promising that the company will not let them down.

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Responding to the call for increase in dividend payment, he said, the insurer has always strived to improve on its results Year-On-Year basis, stating that, the future outlook looks promising, in spite of the challenging business operating environment, hence, the shareholders should be optimistic of a better dividend payment next time.

Meanwhile, the group managing director, Ganiyu Musa, said: “we are indeed grateful to all our esteemed customers (Institutional, Retail and the Broking community) for their continuous patronage and for entrusting us with all their risk management needs.

“These, coupled with the ingenuity and resolve of our staff and our commitment to exceptional service delivery have made us one of the leaders in Nigeria’s Insurance industry.”