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NEM Insurance declares 60 kobo dividend to shareholders, reports N12.95bn profit in FY 2023

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NEM Insurance declares 60 kobo dividend to shareholders, reports N12.95bn profit in FY 2023

NEM Insurance Plc has declared a final dividend of 60 kobo to its shareholders for the year ended 31 December 2023.

The underwriting firm reported a total revenue of N71.689 billion for the 12 months period, up by 107.88% from N34.486 billion revenue reported in FY 2022.

Profit after tax grew year on year by 139.73% to N12.95 billion form N5.4 billion profit achieved the previous year.

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Earnings per share of the Group stands at N2.58.

At the share price of N7.20, the P/E ratio of NEM Insurance stands at 2.79x with earnings yield of 35.85%.

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