Finance

South African life insurer MMI Holdings to distribute a 36 Zar cents dividend per share

Wednesday, 13 March 2019 19:08
South African life insurer MMI Holdings to distribute a 36 Zar cents dividend per share

(Ecofin Agency) - South African life insurer MMI Holdings will give a 36 zar cents per share to its investors following a profitable H1 for its six months which ended on December 31, 2018.  “The R1.6 billion of normalised headline earnings is in line with the Reset and Grow targets, and we believe this was a pleasing result in the current operating environment,” the life insurer indicated in the summary of its financial information for the period which ended December 31, 2018.  

These performances were due to an improvement in the South African life insurance market but also to extraordinary revenues from some of its investments. Nevertheless, it recorded a decrease in its stock investments in the wake of the economic conditions in South Africa during the 2018 fiscal year.

The positive development appears like a winning bet made by the firm. Indeed, last year, it decided to reinvest its ZAR2 billion profit to repurchase some of its shares it deemed undervalued by 20% compared with their intrinsic values.

The firm’s managers ensure that it could double its profit by 2021.
On the Johannesburg Stock Exchange, its stock went up twice on March 11 and 12, 2019 gaining more than 5%. It ended the trading day of March 12, 2019, at ZAR17.7, a level it never reached since December 19, 2018.

Idriss Linge



 
Telecom


 
Public Management


Ecofin Agency covers the news from 9 business sectors in Africa: Public management, Finance, ICT, Agribusiness, Electricity, Mining, Oil and Gas, Comms and Laws. Ecofin Agency is also creating and management specialized medias, in paper and on the web/social networks, for institutions or African publishers.

AGENCE ECOFIN

Mediamania Sarl
Rue du Léman, 6
1201 Genève
Tél: +41 22 301 96 11

REDACTION
redaction@agenceecofin.com

Public management
Aaron AKINOCHO
Borgia KOBRI
Moutiou ADJIBI

Finance
Idriss LINGE
Walid KEFI
Chamberline MOKO

Agribusiness
Espoir OLODO

Electricity
Gwladys JOHNSON

Oil and Gas
Olivier DE SOUZA

Mining
Louis-Nino KANSOUN

ITC 
Muriel EDJO

Comms
Servan AHOUGNON

Cameroon
Brice R. MBODIAM
Sylvain ANDZONGO
Monique MAY
Julienne Rose SENDE

Togo
Fiacre E. KAKPO
Waliyullah TAJUDEEN
Séna AKODA

Niger
Sandrine GAINGNE

Gabon
Stephane BILLE
Pierre-Celestin ATANGANA

Desk
Stéphane ALIDJINOU
Souha TOURE
Vahid CODJIA
Diane ZODEHOUGAN
Hikmatu BILALI

Translation
Schadrac AKINOCHO
Mouka MEZONLIN
Firmine AÏZAN



Digital
Omar SOKHNA
Mamadou DIOP
Bacary MANE
Abdel Razak MOULIOM

Digital Marketing
Jérémie FLAUX
Geraud ACHI
Jean Christian BERNARD
Franck FOUTE

Web publishing
Bakoly RAHARISOA
Rina RAMANANDRAISOA
Hasina RAJEMISON

Development
Dominique FLAUX

 


 
REGIE COMMERCIALE
AGENCE ECOFIN
Rue du Léman, 6
1201 Genève
Tél: +41 22 301 96 11
Fax: +41 22 301 96 10

Benjamin FLAUX
bf@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72

Voir page 
Nos services
 

 










 



Ecofin Agency is a news agency for economic and sectorial information. It was created in 2010 and it website was launched in June 2011.

Please publish modules in offcanvas position.