Cornerstone Insurance Plc Declares Final Dividend of 27 Kobo Amid Strong Insurance Revenue Growth

Cornerstone Insurance Plc has announced a final dividend of 27 kobo per share for every 50 kobo ordinary share held by shareholders. This was disclosed in a corporate filing submitted to the Nigerian Exchange (NGX) on July 12, 2025, and signed by the company’s legal representatives, PAC Solicitors.

The dividend, which applies to the financial year ended December 31, 2024, will be paid electronically on July 29, 2025, to shareholders whose names appear on the company’s register as of the qualification date — July 7, 2025. The payout is subject to appropriate withholding tax and regulatory approvals.

Key Dividend Highlights

• Dividend Amount: 27 kobo per 50 kobo share

• Total Dividend Payout: ₦4.9 billion

• Payment Date: July 29, 2025

• Qualification Date: July 7, 2025

• Dividend Yield: 7.24% (based on current share price of ₦3.73)

• Payout Ratio: 18.94%

The company urged shareholders to ensure their e-dividend registration is completed to facilitate smooth and direct crediting of their bank accounts.

Financial Performance Snapshot – Q1 2025

Despite a notable decline in investment income, Cornerstone Insurance Plc delivered a strong operational performance in its core insurance business during the first quarter of 2025.

📈 Premium Growth

• Gross Premiums: ₦13.8 billion
  Up from ₦9.8 billion in Q1 2024

📊 Insurance Revenue

• Insurance Revenue: ₦11.1 billion
  Up from ₦7.9 billion year-on-year

💵 Claims Paid

• Total Claims Paid: ₦3.9 billion
  A significant increase from ₦1.2 billion in Q1 2024
  (Reflects increased underwriting activity)

📉 Profit Before Tax

• Q1 Pre-Tax Profit: ₦1.86 billion
  Down sharply from ₦18.1 billion in Q1 2024

This steep drop was attributed largely to a decline in investment returns, which fell from ₦18 billion in Q1 2024 to just ₦2.4 billion, due in part to reduced foreign exchange gains.

Balance Sheet Overview

• Total Assets: ₦126.5 billion
  Up from ₦121.3 billion

• Retained Earnings: ₦31.5 billion
  Slightly lower than ₦32.6 billion in the prior year

The company’s asset growth, despite a dip in retained earnings and investment returns, reflects a balanced approach to risk and a solid operational structure.

A Balanced Outlook

Cornerstone’s dividend declaration signals management’s confidence in its long-term financial health, even as investment climate volatility impacted Q1 returns. With insurance revenue and gross premiums posting double-digit growth, the company’s core underwriting operations remain robust, positioning it well for the rest of the financial year.

This development places Cornerstone Insurance Plc among the few insurance firms continuing to deliver value to shareholders through regular and competitive dividend payouts, despite macroeconomic headwinds.

Investors and market analysts will now be watching closely for Q2 and half-year results, which could offer clearer insights into the company’s full-year earnings potential — particularly as global and domestic markets react to changing interest rates, inflation trends, and exchange rate dynamics.