Cornerstone Insurance declares N0.28 dividend despite 69% fall in pre-tax profit FY2025

Cornerstone Insurance declares N0.28 dividend despite 69% fall in pre-tax profit FY2025

Cornerstone Insurance Plc has announced a final dividend of N0.28 kobo per share for the financial year ended December 31, 2025 despite a 69% fall in its pre-tax profit to N8.73 billion, down from N28.62 billion in FY2024.

The Company’s corporate actions announcement, dated June 17, 2026, sets a qualification date of July 2, 2026, with payment scheduled electronically on July 22, 2026, to shareholders who have completed e-dividend registration.

The register of members will close from Friday, July 3 to Monday, July 6, 2026. The company’s Annual General Meeting is scheduled for July 20, 2026, at Shell Hall, MUSON Centre, Onikan, Lagos.

Despite the headline profit decline, Cornerstone’s FY2025 results reveal a company whose core underwriting engine is firing on all cylinders — with the profit decline concentrated entirely in investment income, which collapsed 76.56% year-on-year to N8.39 billion from N35.81 billion in 2024.

The contrast between the group’s underwriting performance and its investment result is the defining story of the FY2025 numbers.

Cornerstone Insurance obtained approval to implement a holding company structure that will separate its life and general insurance operations, bringing its general insurance businesses — including Hilal Takaful Nigeria Limited — under a more focused operating framework.

The company’s share price gained 9.26% to N5.90 on June 17, 2026, the day its audited results were released, from a previous close of N5.40, but closed flat on Thursday.

Year-to-date, however, the stock has declined 1.01% from its year-opening price of N5.96. With the 4.7% dividend yield and the strong underwriting recovery, the market may price the stock higher based on the improving fundamentals rather than the headline profit decline.