SIC Life Pays Dividend To Shareholders
5/11/2012 7:33:44 AM -
SIC Life Company Limited has paid a total dividend of GH¢1,215,422 to its shareholders, namely; the Government of Ghana and SIC General.
Out of the amount, 80 per cent is for the government while the remaining percentage is for SIC General.
Making the presentation to the government, the Managing Director of the company Mr Aaron Issa Anafure, pledged the commitment of the company to honour its obligations to the shareholders of the company at all times.
He said the company had been transformed to increase the value of its shareholders and indicated that the board, management and staff of the company will continuously work hard to declare profits.
Earlier at the company’s Annual General Meeting (AGM), Mr Anafure said 2011 marked the first full calendar year of the company’s operations, having commenced operations on September 1, 2010 and described the year 2011 as a landmark in the company’s history.
“At the end of December 2011 the company had a net loan portfolio of GHS3,602,773. In line with the company’s core mandate, the loan portfolio of SIC Life TFL was dominated by Sika Plan Customers”.
He said the company’s Sika Plan customers had been granted loans totalling GHC2,491,446 or 69.2 per cent of the portfolio.
These, Mr Anafure said were customers operating from Accra, Tema, Koforidua, Kumasi, Techiman, Cape Coast and Takoradi.
He admitted that the bulk of the Sika Plan business of the company was concentrated in Accra and Kumasi. However, customers located in the other towns are well served and promptly too.
Mr Anafure said “For its first full year of operations, SIC Life Trust Finance Limited declared a Net Profit of GHS190,851 compared to a loss of GHS54,164 declared for the four months’ operations in 2010”.
Based on the 2011 performance, shareholders funds has increased by GHS136,687 to GHS7,136,687.