For the seventh consecutive year, Premium Pension Limited has declared impressive dividend for its shareholders following another impressive performance and for the 2014 financial year, it paid N2.00 per share. Warrants were presented to shareholders at corporate headquarters of the company in Abuja, venue of the 10th annual general meeting.
This is even as many companies continue to struggle to maintain clean balance sheet because of current difficulties in the wake of economic meltdown in the country, Premium Pension Limited has announced turnover of N5.252 billion for the 2014 financial year.
According to Chairman of the Company, Mr. Aliyu Dikko, profit before tax (PBT) grew from N2.351 billion in 2013 by 10.97 to N2.609 billion.
Profit after tax (PAT) also rose to N1.766 billion during the period under review when compared to N1.625 billion recorded in same period of 2013, marking an 8.68 percent.
According to Dikko, who was re-elected during the meeting, assets and income for the company witnessed significant growth during the year ended December, 31, 2014 despite stiff competition and macroeconomic instability.
He added that the number of retirement savings accounts (RSAs) registered by the company in both in the public and private sector organizations increased from 613,449 as at December, 2013 to 662,628 in 2014.
In addition, consolidated portfolio as at December 31, 2014 had a net asset value of N367.768 billion as against N323.427 billion that had been reported in December, 2013, which resulted in a growth of 13.69percent.
The RSA (active) fund which as at December 31, 2013 had a net asset value of N219.288 billion closed the year 2014 with N268.198 billion signifying a growth of 22.30%.
However, RSA (retiree) fund that had N41.415 billion as at the end of the year 2013 recorded a decline of N1.144 billion or 2.76% to close the year with a net asset value of N40.271 billion. The legacy fund which had N62.770 billion in 2013 financial year decreased to N57.898 billion or a 7.76% decline in growth.
He said despite the declining employment opportunities that had negatively impacted on the company’s business generation drives, Premium Pension has expanded its horizon in terms of funds under management and number of Retirement Savings Accounts.
“As at December 2014 the company has several Funds Under Management (FUM), namely; Active RSA fund, Retiree RSA fund, CBN active and CBN Retiree fund, NNPC 1 & 2 fund UBN fund, SEC fund and FBN fund. Other funds under our company’s management include Jigawa State fund, NDIC fund, Intercontinental fund, Lagos Chanel Mgt fund, Rivers State fund as well as Niger state Legacy fund.”
Dikko maintained that the company had maintained robust relationship with existing institutional clients and is tirelessly working towards establishing new relationships.