More from CIC FB:

CIC plans to make a bonus issue of 1 new share for every 5 paid up shares. #CICInvestorBriefing

In Micro-Insurance, CIC wrote over Kshs 600 Million of premiums in 2013. We have set a target of 1 Billion in 2014. Our key focus areas will be Micro-Health, Life and Micro-Pensions. #CICInvestorBriefing

In Real Estate CIC Insurance Group owns 512 Acres in Isinya and 200 Acres in Kiambu . We plan to commence development of the same. #CICInvestorBriefing

CIC has identified alternative distribution channels. We have partnered with Tuskys to offer #Shopassurance . This will be accessible countrywide on the 40 Tuskys outlets. #CICInvestorBriefing

We have partnered with 17 Banks to offer Bancassurance. The premium in 2013 was beyond Kshs 1.7 Billion. #CICInvestorBriefing

CIC is expanding regionally. We are already operational in South Sudan. We are also completing the agreements in Uganda and Malawi. We plan to commence operation by July 2014. #CICInvestorBriefing

etc.

DPS 10 CENTS

Have you checked this stock's price to book value! Somethings really don't make sense! And guys are still buying and buying and buying! WOLOLO!

Investors are willing to buy a stock at a premium if they foresee good prospects in the future. Remember not many years ago Coop was paying 10 cents dividends.

ditto cic will give dps of 0.5 in less than 5yrs

The bonus issue is highly welcome..

True it is a welcome move. I hope the increased share capital will be utilized well during their expansion strategy, not just diluting the shares.

That might be some good news for us.

A preview of what the General Manager Finance had concerning the results;
MEDICAL DIVISION;
• Had the highest claims and affected the profit growth. The company is undertaking the following steps;
• Revamped claims department
• Biometric registration at the hospitals is being introduced to eliminate fraud.
• Staff have been taken for training on handling the new business.
• A person who is a medical doctor has been recruited to oversee the medical division.

OTHER INSURANCE CLASSES
• Partnering with supermarket and shops
• Partnering with banks i.e. banc assurance
• Micro-insurance

OPENING A SUBSIDIARY IN MALAWI:
• Opportunities in Malawi
• Been approached by unions in Malawi that’s why they are going to Malawi
• For the first 1 year not much expected in terms of premiums about ksh.50million
• After that premiums will be doubling after 2 years

Real Estate Portfolio
• 512 acres in kajiado and 200 acres in kiambu
• An organisation has requested it wants 200 units
• There is also an investor who has requested joint venture in Karen
• US Sacco want them to develop properties in partnership with them.
• From the 712 acres they will develop some residential units and sell and also serviced plots.
• Going forward real estate will be a major contributor.
• This year they are expecting ksh.100 million in rental income from twin towers
• Also partnering with counties to develop housing units.

The financial performance is below par. The bonus & Malawi thing is doing it in keeping the share price afloat.