MUTUAL BENEFITS APPROVES ₦802M DIVIDEND PAYOUT

Shareholders of Mutual Benefits Assurance Plc have approved a ₦802.46 million dividend payout for the financial year ended December 31, 2025.

The approval was given at the insurer’s 30th Annual General Meeting held in Lagos, with shareholders receiving a dividend of four kobo per ordinary share of 50 kobo. The payout represents a 100 per cent increase from the previous year’s distribution.

The company’s board said the dividend reflected the strength of Mutual Benefits’ balance sheet and its commitment to creating long-term value for shareholders.

Board Director Adesoye Olatunji, who chaired the meeting on behalf of Chairman Akin Ogunbiyi, said the successful conclusion of the AGM demonstrated the company’s commitment to corporate governance, regulatory compliance, and sustainable value creation.

He said the insurer remained focused on strengthening its market position and delivering long-term value in Nigeria’s evolving insurance industry.

The AGM was attended by the company’s senior management, representatives of the National Insurance Commission, Securities and Exchange Commission, Nigerian Exchange Limited, Corporate Affairs Commission, KPMG Professional Services, and Apel Capital Registrars.

The dividend approval comes after Mutual Benefits successfully completed the recapitalisation exercise required by NAICOM.

With its expanded capital base and stronger risk-bearing capacity, the insurer said it was positioned to deepen insurance penetration, adopt more technical and innovative solutions, and expand its market share.

The company reaffirmed its commitment to strengthening its operations and creating value for shareholders and other stakeholders.