Legacy Pension Managers yesterday declared a dividend of 88 kobo per share for its shareholders.
Chairman of the company, Mahey Rasheed disclosed this at the company’s  annual general meeting held in Abuja for the year ended 2012.
He said “the Retirement Saving Account (RSA) fund surplus income for the year was N5.434 billion as against N1.952 billion in 2011, representing a 178.41 percent rise while retiree fund surplus grew 84.83 percent grossing N623.460 million, up from N337.308 million for 2011.” Rasheed further said “We govern ourselves very well and we take care of all the business model parameters that we have to look at to make profit. We also have loyal staff and management to achieve our target always.

In his remarks, the Managing Director Misbau Yola said the company kept costs under reasonable control as profit after tax grew by 24.60 percent from N278.07 million to N346.47 million while profit before tax rose by 24.68 percent from N418.93 million to N522.34 million.
Assets Under Management grew to N120.028 billion from N90.298 billion in 2011 while the number of registered employers and employees stood at 3,123 and 222,544 up from 2,026 and 196,11 respectively, he said.
Yola projected a 50 percent growth of profit for 2013, adding that by 2014 - 2015, the company would have crossed over one billion naira mark in terms of profit before tax and in terms of enrolment.
He said, “We currently have 230,000 RSA and assets have grown up to N115 billion and we are projecting about N140 billion within the next one and a half years.

Source: http://dailytrust.com.ng/index.php/business/58269-legacy-pension-declares-88k-per-share-dividend

Kudos to them.......the 1st time in a looooonngggg time

nice one.thumbs up.

I hope it's not a Ponzi scheme. New money paying for old money kind of thing.

88k dividend..can someone pls explain in details to me how these things work?

I no know book:
I hope it's not a Ponzi scheme. New money paying for old money kind of thing.

Those guys really got me thinking HOW? But I sure do know that its not a Ponzi scheme.

88k means 88 kobo

See as them use 21first century term bring me come read.88k ,I rush come read not knowing say na 88kobo them they talk about.

Legacy pension declares 88k dividend? Okay, lemme shut up so I can talk later

We don't want to hear stories later o

Reserved.

Dap07: 88k dividend..can someone pls explain in details to me how these things work?

88k means 88kobo. Now, for every share a shareholder has in the company, 88kobo will be paid.

E.g 88k x 2000shares = 88 x 2000 = 176000/100 = N1760 will be paid to the shareholder for the period.

I have been working for over 3 yrs nw never had an alart of my contribution and i'm using LEGACY.what r they declearing?mtchew!

Bookmark

kudos 2 them, but come ask how many pensioners were they able 2 settle since their existence. declaring profits on paper is nt d issue but transmitting in2 reality is d issue

udifrancis:

88k means 88kobo. Now, for every share a shareholder has in the company, 88kobo will be paid.

E.g 88k x 2000shares = 88 x 2000 = 176000/100 = N1760 will be paid to the shareholder for the period.

Got it..thanks very much..