Shareholders of Enterprise Group Limited are to enjoy a 20 per cent increase in dividends paid for 2018 as the board proposed a final dividend of 54 pesewas per share for 2019.
Presenting the Group's 2019 Annual Report and Financial Statements, Chairman, Trevor Trefgarne, cited the sterling financial performance of the Group as a reason for the action.
Net Income hit ¢714 million representing a 17 per cent increase from its ¢607 million performance in 2018.
Speaking at the AGM, Chairman of the Enterprise Group, Trevor Trefgarne said he is particularly proud of the Group’s achievement over the years.
“ I am proud of the Group’s success during the five-year period to 2019 and I am happy to report that our Net Income grew from a 2014 base of 288.37 million cedis to ¢714.1 million in 2019. This represents a five-year CAGR of 19.9 per cent. Which exceeds the insurance industry average of 19 per cent,” he stated.
Group CEO of Enterprise Group Limited, Keli Gadzekpo in his remarks noted that despite the pressures imposed on the business by the COVID-19 pandemic, the Group has put in place critical measures to ensure that the business is able to execute its mandate successfully without exposing staff and customers to the risks of the disease.
“As insurers, we understand how unpredictable shocks like the pandemic can disrupt our very existence.
"While we did not predict such momentous disruption as Covid-19, the Enterprise Leadership Team took it very seriously at the beginning of the crisis," he said.
Meanwhile, Enterprise Group Limited experienced a sharp decline in its total market capitalisation.
Its performance on the equity market dropped from ¢61 billion in 2018 to ¢56 billion in 2019.
This has been attributed to the poor performance of the Ghana Stock Exchange Composite Index.
Latest Stories
-
NIC and partners commit to improve insurance coverage through inclusive insurance
9 mins -
Thieves ransack Obuasi Hospital Medical Superintendent’s residence
20 mins -
Kenya: Safari Rally to be Extended to Five Days
25 mins -
Rebel Wilson lost her virginity at 35; hopes to spread a ‘positive message’ by sharing her story
43 mins -
I applied for speedy hearing of injunction application by Dafeamekpor – Attorney General clarifies
58 mins -
Sarkodie, Keche, Yvonne Nelson, other celebs angered by Tema General Hospital power outage
1 hour -
Kenya – Strengthening Healthcare: World Health Organization (WHO) Donates 940 Tablets for Health Emergency Response
1 hour -
BoG appoints Dr. Joseph France as advisor for management of UMB
1 hour -
WAFU B U-17 Cup of Nations to be staged in Accra in May
1 hour -
Mother, who alleges that her baby died due to ‘dumsor’ shares her story
1 hour -
Academic City’s Business and Communication Dean launches new book
2 hours -
FIFA development delegation in Ghana to review GFA projects
2 hours -
United States (U.S.) Senators Oversee United States Government (USG) Health Assistance To Angola At The Instituto Técnico De Saúde De Luanda
2 hours -
Must teachers always strike before concerns are addressed? – Peter Anti quizzes
2 hours -
John Kumah’s wife inconsolable at his one week observance [Video]
2 hours