Mutual Benefits Shareholders Approve N802.5m Dividend, Director Re-Elections

At its 30th Annual General Meeting held virtually on August 6, 2026, shareholders of Mutual Benefits Assurance Plc approved a final dividend of N802.47 million for the financial year ended December 31, 2025.

According to a corporate disclosure filed with the Nigerian Exchange by Company Secretary Jide Ibitayo, the payout equates to 4 kobo per 50 kobo ordinary share and will be transferred electronically to shareholders registered as of July 21, 2026.

During the meeting, shareholders formally adopted the audited financial statements for 2025, which highlighted a strong earnings performance with group pre-tax profit climbing to N17.4 billion.

In addition to financial approvals, governance resolutions were passed to sustain executive leadership and oversight. Shareholders ratified the retirement and re-election of three executive directors: Mr. Lateef Bakare, Mrs. Wunmi Eniola-Jegede, and Mr. Abidemi Sonoiki.

Furthermore, a new Statutory Audit Committee comprising shareholder and board representatives was constituted, and the board was authorized to fix the remuneration for external auditors KPMG Professional Services for the 2026 fiscal year.