Accra: Shareholders of SIC Insurance PLC have approved a dividend of GHS0.1022 per share for the financial year ending December 31, 2025. At the 19th hybrid Annual General Meeting (AGM) in Accra, 179 shareholders voted in favor of the motion, with four opposing and none abstaining. This decision effectively doubles the total dividend to GHS20,000,000, set to be paid on October 12, 2026, as announced by Mr. Bernard Ahiafor, the Board Chairman of SIC Insurance PLC.
According to Ghana News Agency, Mr. Ahiafor noted that the dividend per share for the 2024 financial year was GHS0.0511, maintaining the same rate as in 2023, with a total dividend of GHS10,000,000. The company's revenue for the year under review reached GHS598,188,744, marking an increase from GHS559,483,192 in the previous year. This growth demonstrates the ongoing confidence of policyholders in the SIC brand and the expanding relevance of insurance in Ghana.
The group reported a profit before tax of GHS117,744,307 for the year, an improvement from GHS83,205,619 in 2024, representing a year-on-year growth of approximately 41.5 percent. After accounting for taxes and levies totaling GHS33,691,243, the profit after tax was GHS84,053,064, an increase of approximately 57.4 percent from the prior year.
Total shareholders' funds increased to GHS786,280,583 by December 31, 2025, up from GHS670,378,999 in the previous year, an increase of GHS115,901,584, or approximately 17.3 percent. The return on shareholders' funds improved to 10.69 percent, compared to 7.97 percent in the prior year. Mr. Ahiafor emphasized the board's commitment to further enhancing this metric as part of their transformation agenda.
The company's basic earnings per share rose significantly to GHS0.4296, compared to GHS0.2730 in 2024, reflecting a 57.4 percent increase. This improvement underscores the translation of SIC Insurance PLC's profitability into tangible value for shareholders. Additionally, the company invested GHS1,270,991 in corporate social responsibility activities in 2025, a 26.5 percent increase over the previous year.
Looking ahead, SIC Insurance PLC aims to accelerate technology deployment, deepen market penetration, optimize investment portfolios, and advance their sustainability agenda. Mr. James Agyenim-Boateng, the Managing Director, emphasized the company's commitment to investing in its workforce and expanding its market reach to underserved segments, while maintaining a prudent risk posture in its investment strategy.