Mutual Benefits Assurance Plc has approved a N802.46 million dividend payout for the 2025 financial year, representing four kobo per ordinary share and a 100% increase from the previous year's distribution. The approval was made at the insurer's 30th Annual General Meeting in Lagos, where shareholders also received assurances about the company's financial strength, corporate governance and growth strategy.
Mutual Benefits Assurance Plc has approved a N802.46 million dividend payout to shareholders for the financial year ended December 31, 2025, following the conclusion of its 30th Annual General Meeting in Lagos.
The approved dividend of four kobo per ordinary share of 50 kobo represents a 100% increase from the distribution made by the insurance company in the previous financial year.
The dividend approval was welcomed by shareholders during the meeting, reflecting continued investor interest in the insurer's financial performance and ability to return value to shareholders.
Speaking at the meeting, Board Director Adesoye Olatunji, who chaired the AGM on behalf of Board Chairman Akin Ogunbiyi, said the dividend and completion of the annual meeting reflected the company's commitment to corporate governance, regulatory compliance and sustainable value creation. Olatunji also said the company's ability to make the distribution demonstrated the resilience of its balance sheet.
Mutual Benefits Assurance said it remains focused on strengthening its position in Nigeria's evolving insurance market while pursuing long-term value creation for investors. The company's management also reaffirmed its commitment to building a stronger institution and advancing its core objective of creating and protecting wealth.
The AGM was attended by senior executives, including Managing Director and Chief Executive Officer Femi Asenuga, Managing Director and CEO of Mutual Benefits Life Assurance, Biyi Ashiru-Mobolaji, Executive Director (Technical) Joseph Oladokun, and Company Secretary Jide Ibitayo.
Representatives from regulatory and professional institutions, including the National Insurance Commission, Securities and Exchange Commission, Nigerian Exchange Limited, Corporate Affairs Commission, KPMG Professional Services and Apel Capital Registrars, also participated in the meeting.
The dividend approval comes after Mutual Benefits completed the NAICOM recapitalisation exercise, giving the insurer a larger capital base and greater capacity to absorb risks.
The company said its strengthened capital position would support efforts to expand its market presence, improve its technical capabilities and deepen insurance penetration.
The latest dividend therefore gives shareholders a direct return from the insurer's 2025 financial performance while the company moves forward with plans to strengthen its competitive position in Nigeria's insurance industry.
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