BIHL declares bumper P154m dividend :: Mmegi Online

Diversified financial house, BIHL has put a smile on its shareholders’ faces by declaring a 31 percent increase in dividends to P154 million, despite operating in a challenging economic environment.

In the first six months of the year, BIHL’s revenues breached the P2 billion mark largely on the back of a significant 68 percent jump in the life insurance division’s annuity business.

“The directors have declared a dividend of 55 thebe per share, gross of tax. This will amount to P154 million and it’s quite pleasing for us, especially as it comes at a time when the markets are in turbulence. The higher payout is on the back of a significant jump in our operating profit, which rose 25 percent to P188 million while our net insurance premium increased by an impressive 32 percent to P1.3 billion,” CEO Gaffar Hassam said at a media briefing yesterday.

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