Insurance giant, Enterprise Group ended 2023 with an impressive final performance in spite of the economic challenges in the country.
As a result of the overall performance, the Board of Enterprise Group recommended a dividend of GH¢0.095 per share for its shareholders.
This represents a 30 percent increase over what it paid in 2022.
This was disclosed at the 2024 Annual General Meeting (AGM) of the Enterprise Group PLC in Accra.
The Group also recorded a profit before tax of 273 million cedis compared to 174 million cedis in 2022. It also posted a profit after tax of 193 million cedis representing 60 percent year-on-year.
Group Chief Executive Officer, Daniel Larbi-Tieku in an interview said the dividend declared is due to the strong financial performance last year.
“We give real values for our shareholders that is why we try to pay our dividend in excess of inflation which will then translate to real dividend growth for them” he stated.
Mr. Larbi-Tieku indicated that, their insurance revenue grew by over 24% and income from pension business grew by 23% in 2023.
This notwithstanding, the Group CEO said their operation was impacted by the Domestic Debt Exchange Programme (DDEP).
“We had a bit of contraction in investment income which is also a core of our revenues. Contraction because of the impact of DDEP; the yields that we received in 2023 were far lower than what came through in 2022” he explained.
However, Mr. Larbi-Tieku said their top line grew by 23% and are hoping to do more to increase the dividend for stakeholders in the coming years.