Momentum Metropolitan ups interim dividend even as profit barely beats inflation
Momentum Metropolitan’s headquarters in Centurion. (Supplied/Momentum)
Momentum Metropolitan has raised its interim dividend despite its net profit barely outperformed inflation.
The Centurion-headquartered insurance and investment group declared an interim dividend of 60 cents per ordinary share for the half-year to end-December 2023, compared to 50 cents a share in the prior half-year, even though interim net profit rose just 5.5% to R2.24 billion, up from a restated R2.12 billion in the previous six-month period following restatements for new accounting standards. Consumer inflation averaged 6% in 2023 and 5.2% in the second half of last year, the timeframe that corresponds with Momentum Metropolitan’s interim reporting period.
On a normalised basis, headline earnings were up 42% on the prior period at R2.4 billion while on a per-share basis basic earnings rose 11% to 159.9 cents a share, from 144.5 cents a share in the previous corresponding period. Sales growth was strong with the group’s present value of new business premiums (PVNBP) rising 18% to R39.1 billion, though the value of new business (VNB) fell 38% to R200 million.
South Africans need to be in the know if we want to create a prosperous future. News24 has kept the country informed for 25 years, and we’re about to enter a new chapter of fearless journalism. Join our free subscription trial to unlock this story and a world of news aimed to inform, empower, and inspire.
Post Publications || Join us on Whatsapp || Post Disclaimer
SEND A STORY: Do you have a story for us or need a promotion/advertisement? Submit them via our email admin@edulearnweb or Ghanaeducation.org
TELEGRAM PAGE >>> [JOIN]
DOWNLOAD OUR EDUCATION NEWS APP - MOBILE APP
JOIN OUR EDUCATION NEW GROUPS (WHATSAPP)
Join one of our Whatsapp/Telegram Groups for current Ghana Education Service News Updates:
JOIN ONLY ONE... THANKS
TELEGRAM PAGE >>> [JOIN]
Group 1 >>New Group> [JOIN]
Group 2 >>New Group> [JOIN]
TELEGRAM PAGE >>> [JOIN]
Only websites that give us a URL backlink can repost our content on their sites.
The information contained in this post is for general information purposes only. The information is provided by edulearnweb.com and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the post for any purpose.
||About Us|| Contact Us