Last Friday RMI announces its annual results for the year ended June 2012:
Normalised up 21% to 159.5 cents
special dividend of 55 cents
Ordinary dividend up 42% to 80 cents
Intrisic value up 30% to 1,714 cents
RMI has interests in some of the leading South African insurers: Discovery, MMI (Momentum and Metropolitan), and Outsurance. While it is a long-term hold, the current price of R21.75 is not cheap.
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