Shareholders get N230m from Trustfund

The board of Trustfund Pensions Plc has announced a dividend pay-out
of N230 million for the year2012 with shareholders receiving 23 kobo
per N1 share compared to 15 kobo in 2011.
Nigeria Labour Congres, NLC; Trade Union Congress, TUC; and Nigeria
Employers Consultative Association, NECA, who are major shareholders
of Trustfund Pensions expressed delight at the news of the boost in
dividend.
The board also announced the confirmation of the appointment of the
Acting Managing Director, Mrs. Helen Da-Souza as substantive chief
executive.
She is the first woman to head Trustfund Pensions Plc.
Chairman of the Board of Directors of Trustfund Pensions Plc, Mrs.
Ngozi Olejeme, made the announcement of the dividend boost for
shareholders, weekend, at the annual general meeting in Abuja.
She said: "The company remains committed to delivering superior
returns to its shareholders by ensuring that a goodportion of profit
is set aside for you, our valued investors.
"Total operating income was N3.308 billion for the year ended,
representing a 52.44% increase over the previous year's figure of
N2.170 billion.
"Profit after tax similarly rose from N534.69 million in 2011 to
N788.52 million in 2012."
"During the same period, total assets of the company grewby 30.8% from
N2.892 billion to N3.784 billion, while shareholders' fund rose by
31.44% from N1.993 billion to N2.620 billion."
Notwithstanding the successes recorded by Trustfund Pension Plc,
Olejeme said the growth rate in the pensions industry "remains slow
mainly due to the lack of compliance by employers and the slow pace of
implementation of the contributory scheme by state governments."
NLC President, Mr. Abdulwaheed Omar, said of the progress recorded by
the Fund, "we are progressing and I hope that this trend will
continue.
"I am expressing my views, both as a director representing NLC and
shareholders. This is a direct resultof peace and harmony in the
organisation."
NECA's Director-General, Mr. Olusegun Oshinowo, alsocommended the
board and management.