OUTsurance is paying a special dividend of 40 cents per share for the full year to June 2024 after the South Africa unit raised normalised earnings by 17.4% to R2.2 billion, boosted by strong income although its Irish division incurred start-up losses of R180 million.
The 40 cents special dividend OUTsurance paid was on top of a 29.4% upswing in the full-year ordinary dividend to 174.4 cents.
Shares in the company traded 8% higher at R55.14 in midday trade on the JSE yesterday, expanding its 20.97%, 7.11% and 2.18% upswing in the year to date, one month and seven day comparatives, respectively.
After OUTsurance SA raised normalised earnings to R2.2bn, the Youi Group also had 12.8% stronger earnings of R1.5bn while OUTsurance Life was 47.9% stronger at R210 million.
This left OUTsurance with group normalised earnings that were 15.7% higher for the period under review, at R3.8bn
