The Nation Newspaper

Tag: Custodian and Allied

  • Shareholders approve new name for Custodian and Allied

    Shareholders of Custodian and Allied Plc yesterday approved a change of the group’s name to Custodian Investment Plc in a strategic move to align the brand name with the enlarged business outlook of the group.

    At the annual general meeting in Lagos, shareholders approved a special resolution to change the name of the company from Custodian and Allied Plc to Custodian Investment Plc or any other name that may be approved by the Corporate Affairs Commission (CAC) without any further reference to shareholders for their approval.

    Custodian and Allied, a holding company, includes four subsidiaries- Custodian and Allied Insurance Limited, Custodian Life Assurance Limited, Custodian Trustees Limited and CrusaderSterling Pensions Limited.

    Chairman, Custodian and Allied Plc, Dr Omobola Johnson said the group has been positioned to take advantage of emerging opportunities and sustain growth across all its portfolios.

    She noted that following the meltdown of the stock market and the relatively low interest rate regime of 2016, the environment in 2017 was more favourable to companies with net investible funds such as Custodian and Allied Plc.

    According to her, the various revenue streams of the group including premium income, investment income, fees and commission recorded significant growths while the company’s costs were effectively managed, resulting in a 37 per cent increase in net profit.

    “In spite of the uncertainty that usually accompanies election cycles in Nigeria, it is my utmost belief that our management is well positioned and adept enough to weather the storm and continue to take our company to greater heights,” Johnson said.

    She urged shareholders to support the board and management of the company as they strive to create better values for all stakeholders.

    Shareholders who spoke at the meeting commended the board and management of the company for the impressive performance and dividend payout. Custodian and Allied witnessed significant improvement in its profitability in 2017 as the group’s profit after tax rose by 37 per cent from N5.3 billion in 2016 to N7.3 billion in 2017. Gross revenue increased from N38.55 billion in 2016 to N43.05 billion in 2017.

    Shareholders approved the payment of a final dividend of 32 kobo for every 50 kobo ordinary share. The company had earlier paid an interim dividend of 10 kobo per share, bringing total dividend per share to 42 kobo, the highest payout by the company so far. The company has consistently paid dividends to its shareholders every year for the past 20 years.

    Custodian and Allied is a non-bank financial institution with investments in life and non-life insurance, pension fund administration, trusteeship and property holding businesses.

     

     

  • Custodian and Allied grows PBT by 31%

    Custodian and Allied Plc, quoted on the Nigerian Stock Exchange (NSE) with investments in life and non-life insurance, pension fund administration, trusteeship and property holding businesses, has announced a profit before tax (PBT) of N4.7 billion in half year ended 30th June 2017.

    This represents a growth of 31 per cent from the N3.6 billion achieved by the Group in the first half of 2016.

    In a statement filed with the Nigerian Stock Exchange, the directors have recommended the payment of an interim dividend of 10 kobo for every 50 kobo ordinary share of the company. This also shows an increase of 43 per cent over the seven kobo interim dividend paid in 2016.

    The directors are confident that barring unforeseen circumstances, the positive trend would be sustained for the rest of the year.

     

  • Custodian and Allied appoints new chairperson as Ade Ojo retires

    Custodian and Allied appoints new chairperson as Ade Ojo retires

    The board of directors of Custodian and Allied Group has appointed the immediate past Minister of Communications Technology, Dr. Omobola Johnson as the new chairperson for the company as the pioneer chairman, Chief Michael Ade Ojo retires.

    Ade Ojo recently resigned from the board having steered the leadership of the insurance group from inception, to redirect his wealth of experience and leadership approach towards giving back to the society through his numerous philanthropic and educational projects.

    The new chairperson is the erstwhile Minister of Communications Technology, past Chairman Accenture Nigeria, Founding Chairperson of Women in Management and Business (WIMBIZ) and a fellow of the Aspen Global Leadership Network (AGLN).

    She brings over thirty years of corporate experience involving the private and public sectors both locally and internationally to the board of the company and presently serves as non-executive director on the boards of several companies.

    The board also approved the appointment of Mr Olakunle Ade-Ojo as director. Ade-Ojo is the managing director of Toyota Nigeria Ltd.

    Custodian and Allied is a holding company with leading specialist companies including Custodian and Allied Insurance Limited, Custodian Life Assurance Limited, Custodian Trustees Limited and Crusader Sterling Pensions Limited.

     

  • Custodian and Allied pays N353m interim dividend

    Shareholders of Custodian and Allied Plc at the weekend received interim dividend of N353 million as the company’s pre-tax profit rose by 21 per cent in the first half.

    Shareholders on the register of the company as at the close of business last Friday, would receive interim dividend per share of 6.0 kobo.

    The dividend recommendation came on the heels of the company’s half-year results, which showed that profit before tax of N3.34 billion and profit after tax of N2.62 billion for the period ended June 30, 2015.

    Similarly, shareholders’ funds grew to N24.42 billion from N22.49 billion as at 31 December 2014, while total assets exceeded N54 billion as at 30 June 2015.

    The board of the company expressed optimism that the company would sustain the positive trend for the rest of the year, barring any unforeseen circumstances.

    Custodian is a leading non-bank financial institution with investments in life and non-life insurance, pension fund administration, trusteeship and property holding businesses. The Custodian Group consists of Custodian and Allied Plc-the holding company, Custodian and Allied Insurance Limited, Custodian Life Assurance Limited, Custodian Trustees Limited and Crusader Sterling Pensions Limited.