AXA Mansard Climbs by 28% on Bargain Hunting, Pays Dividend
Insurance company AXA Mansard Plc jumped by more than 28%, equivalent to N25.470 billion in the equities market, as investors’ sentiment improved amidst dividend payment for 2024 earnings.
The insurance stock gained investors’ attention ahead of the second quarter earnings season as shareholders anticipate AXA will maintain its dividend payment record. The company obtained shareholders’ approval to pay its final dividend for 2024 at the annual meeting held on Thursday, fueling bargain hunting throughout the week.
Trading details from the Nigerian Exchange showed that AXA Mansard’s share price surged by 28.38% in an all week rally that pushed its market value to N12.8 per unit on Friday. The insurance company share price climbed as trading details revealed that 2.527 million units valued at N32.222 million exchanged hands in the local bourse on Friday.
AXA Mansard opened the week at N9.97 before the insurance company shareholder meeting later in the week. At the annual general meeting, AXA Mansard said it paid a final dividend of 45 kobo per ordinary share of N2.00 each in respect of the financial year ended 31st December 2024.
The insurance company announced that the dividend will be paid to shareholders whose names appear in the company’s Register of Members as at the close of business on Wednesday, 25th June 2025.
At the close of the trading session on Friday, AXA Mansard Plc.’s 9 billion shares outstanding in the Nigerian stock market were valued at N115.200 billion, moderately below their highest worth in the last 52 weeks. #AXA Mansard Climbs by 28% on Bargain Hunting, Pays Dividend GTCO Climbs to N3.43trn, Beats Equities Analysts Target Prices
