Trustfund Pensions Limited has declared a dividend of 55 kobo per share for the 2024 financial year following a strong performance across major financial indicators.
According to a press statement issued by the firm, the announcement was made during the company’s 16th Annual General Meeting held on Friday, May 30, 2025, at Fraser Suites, Abuja.
The pension fund administrator said the dividend payout was approved by shareholders in recognition of its strong financial performance and commitment to delivering value to investors.
The company’s Board of Directors noted that the dividend reflects its strategy of balancing investor returns with sustainable reinvestment for long-term growth.
In the statement, the company said, “In recognition of this outstanding performance, the Board of Directors proposed and the shareholders approved a dividend payout of 55 kobo per share.
“This reaffirms Trustfund’s consistent focus on rewarding its investors while maintaining strategic reinvestment for future growth.”
For the year ended December 31, 2024, Trustfund Pensions reported a 19 per cent increase in Assets Under Management, which grew from N1.03tn in 2023 to over N1.23tn in 2024, despite a challenging economic environment.
Profit before tax rose by 46 per cent to N3.8bn, while profit after tax rose by 48 per cent to N2.5bn. The company’s shareholders’ funds also increased by 12 per cent to N23bn, well above the N5bn regulatory minimum for pension fund administrators.
The company said, “Trustfund Pensions Limited has once again demonstrated its resilience and strategic strength with a robust financial performance for the year ended December 31, 2024.”
It added that with a strong capital base, a dynamic workforce, and ongoing investments, it remained well-positioned to drive the next phase of growth and transformation in the pension industry.
The Managing Director and Chief Executive Officer of TrustFund Pensions Limited, Mr Uche Ihechere, earlier attributed the growth to sound investment decisions, operational efficiency and an active board of directors.
“In all performance indices, we were up by double digits, higher of double digits. This is not a result of a PFA that is sleeping on its duties. This is a product of management that is alive to its responsibilities,” he said.
Despite these gains, the TrustFund boss decried the shortage of viable investment options capable of delivering inflation-beating returns.
He said the existing investment pipeline was narrow and called for a more robust legal and regulatory framework to support infrastructure-backed instruments and other growth-oriented assets.
“We are not deal creators. We invest in deals,” he said. “And so those who create the deals… the deal pipeline is not expanding. The areas where investment can deliver higher returns are not coming up.”
Ihechere also backed the proposed N758bn bond by the Federal Government to clear outstanding pension arrears, describing it as a clear indication of renewed commitment to retirees’ welfare.
While commending the efforts of the National Pension Commission, Ihechere noted that the regulator must go beyond compliance enforcement and focus more on market expansion.
He disclosed that fewer than 11 million Nigerians are currently enrolled in the pension scheme out of a population exceeding 230 million, adding that more needed to be done to increase enrolment from both the public and private sectors.
