By Benson Daniel
Shareholders of Mutual Benefits Assurance Plc have approved a dividend payout of N802.46 million for the financial year ended December 31, 2025.
The approval was given at the company’s 30th Annual General Meeting, where shareholders endorsed a dividend of four kobo per ordinary share of 50 kobo.
The dividend represents a 100 per cent increase from the previous year’s distribution, reflecting the company’s improved financial performance and commitment to rewarding investors.
The Board Director, Adesoye Olatunji, who chaired the meeting on behalf of the Board Chairman, Akin Ogunbiyi, said the dividend demonstrated the company’s financial strength and resilience.
He reaffirmed Mutual Benefits’ commitment to sound corporate governance, regulatory compliance and sustainable value creation, while noting that the company would continue to strengthen its position in the insurance industry.
The meeting was attended by the company’s Managing Director and Chief Executive Officer, Femi Asenuga, the Managing Director and CEO of Mutual Benefits Life Assurance, Biyi Ashiru-Mobolaji, Executive Director, Technical, Joseph Oladokun, and Company Secretary, Jide Ibitayo.
Representatives of the National Insurance Commission, Securities and Exchange Commission, Nigerian Exchange Limited and other regulatory and professional bodies also attended the meeting.
The dividend approval comes after Mutual Benefits completed the recapitalisation exercise required by the National Insurance Commission, giving the company an expanded capital base and greater capacity to take on risks and pursue growth opportunities.
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