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Sigma Pensions declares N1.72bn profit, N1 dividend

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May 22, 2015 : Ifeanyi Onuba


The Chairman, Sigma Pensions Limited, Alh. Rasaki Oladejo, on Thursday said that the company, despite the volatility in the operating environment, was able to grow its profit by 14 per cent from N1.51bn in 2013 to N1.72bn in 2014.
Oladejo, while speaking at the company’s 10th Annual General Meeting which was held in Abuja, said the increase in profitability was achieved as a result of its vision of delivering superior pension administration services as its stakeholders.
He said the company also recorded a gross income of N3.81bn in 2014, adding that this was 19 per cent higher than the N3.2bn recorded in 2013.
He said, “We have continued to increase our growth momentum as we have done over the years. In the face of increased competition and a fragile global financial economy, your company was able to grow its gross income from N3.2bn in 2013 to N3.81bn in 2014.
“This represents year on year growth rate of 19 per cent. In the same vein, our profit before tax grew by 14 per cent from N1.51bn to N1.72bm during the same period.”
Oladejo said in line with the company’s tradition of creating wealth for shareholders, the board had recommended a dividend of 100 kobo per share. This was approved by the shareholders at the meeting.
The 100 kobo dividend was 66 kobo higher than the 34 kobo paid in the 2013 financial period.
The Sigma Pensions chairman said going forward, the over reliance of oil as a major source of revenue for the country would make the macroeconomic environment vulnerable to external shocks.
He said, “We expect the Nigerian macroeconomic environment to remain vulnerable to exogenous shocks in 2015.
“In our case as a company, however, our growth over the years has been organically and intrinsically linked with the growth of our people who are vulnerable source of competitive advantage.”
Shareholders, who spoke at the event, commended the management of the company for the financial performance.
Others, however, called for the payment of a higher dividend for the 2015 financial year.
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Friday 22 May 2015

Sigma Pensions declares N1.72bn profit, N1 dividend

May 22, 2015 : Ifeanyi Onuba


The Chairman, Sigma Pensions Limited, Alh. Rasaki Oladejo, on Thursday said that the company, despite the volatility in the operating environment, was able to grow its profit by 14 per cent from N1.51bn in 2013 to N1.72bn in 2014.
Oladejo, while speaking at the company’s 10th Annual General Meeting which was held in Abuja, said the increase in profitability was achieved as a result of its vision of delivering superior pension administration services as its stakeholders.
He said the company also recorded a gross income of N3.81bn in 2014, adding that this was 19 per cent higher than the N3.2bn recorded in 2013.
He said, “We have continued to increase our growth momentum as we have done over the years. In the face of increased competition and a fragile global financial economy, your company was able to grow its gross income from N3.2bn in 2013 to N3.81bn in 2014.
“This represents year on year growth rate of 19 per cent. In the same vein, our profit before tax grew by 14 per cent from N1.51bn to N1.72bm during the same period.”
Oladejo said in line with the company’s tradition of creating wealth for shareholders, the board had recommended a dividend of 100 kobo per share. This was approved by the shareholders at the meeting.
The 100 kobo dividend was 66 kobo higher than the 34 kobo paid in the 2013 financial period.
The Sigma Pensions chairman said going forward, the over reliance of oil as a major source of revenue for the country would make the macroeconomic environment vulnerable to external shocks.
He said, “We expect the Nigerian macroeconomic environment to remain vulnerable to exogenous shocks in 2015.
“In our case as a company, however, our growth over the years has been organically and intrinsically linked with the growth of our people who are vulnerable source of competitive advantage.”
Shareholders, who spoke at the event, commended the management of the company for the financial performance.
Others, however, called for the payment of a higher dividend for the 2015 financial year.
Copyright PUNCH.
All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from PUNCH.
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