AXA Mansard Insurance Plc has declared a final dividend of 45 kobo per share for the 2024 financial year, a move that signals strong investor confidence and a rewarding year for the insurance giant. This dividend will be paid to shareholders whose names appear on the company’s Register of Members as of June 25, 2025.
The dividend, approved by the company’s board, was disclosed in a corporate filing on the Nigerian Exchange (NGX). According to the statement, payment of the dividend—amounting to a total of N4.05 billion—will be made electronically to eligible shareholders via Datamax Registrars Limited on July 10, 2025, the same day as the company’s scheduled Annual General Meeting (AGM).
Dividend Yield and Market Metrics
Based on AXA Mansard’s current share price of N8.64, the 45 kobo dividend translates to a yield of 5.20%, offering a decent return to investors. The company’s payout ratio stands at 27.89%, indicating a balanced approach to profit distribution and retention for growth. However, the firm’s price-to-earnings (P/E) ratio of 3.34x exceeds the industry average of 2.74x, potentially suggesting the stock is somewhat overvalued relative to its peers.
Shareholders Urged to Embrace E-Dividend System
In line with its digitization drive, AXA Mansard has encouraged all shareholders to ensure they are registered for the e-dividend platform. This move is designed to eliminate delays and streamline the dividend payment process.
Impressive Financial Results for FY 2024
The announcement comes on the back of an outstanding financial year for AXA Mansard. For the year ended December 31, 2024, the insurer reported a pre-tax profit of N31.6 billion—an impressive 100.94% increase from the N15.7 billion recorded in 2023. The company’s retained earnings nearly doubled, rising from N14.3 billion to N33.9 billion.
AXA Mansard also reported a significant uptick in its insurance revenue, which climbed 59.11% to reach N131.6 billion from N82.7 billion the previous year. Health insurance led the pack with N47.2 billion in revenue, while oil and gas contributed N37.4 billion. The savings business brought in N12.7 billion, closely followed by fire insurance at N12.6 billion, with other insurance lines rounding out the total.
Looking Ahead: Strong Forecast for Q2 2025
The company remains optimistic about the future, projecting insurance revenue of N86.78 billion for the second quarter of 2025, according to a recent earnings forecast submitted to the Nigerian Exchange Limited. This outlook suggests continued momentum and growth in its core business areas.
In summary, AXA Mansard’s final dividend declaration underscores its robust financial health and commitment to shareholder value. With strong growth figures and a forward-looking strategy, the company continues to solidify its position as a leading player in Nigeria’s insurance industry.