Momentum Group declares dividend after earnings jump

** Momentum Group (JSE: MTM) reported strong unaudited interim results for the six months ended December 31, 2024, with earnings surging 54% to R3.32 billion. Headline earnings mirrored this growth, also rising 54% to R3.311 billion. Normalized headline earnings (NHE) increased 44% to R3.437 billion, translating to an NHE per share increase of 48% to 244.8 cents. This performance prompted an interim dividend declaration of 85 cents per share, up 42% from the prior period. The group's operating profit rose by 33%, driven by improved underwriting results, persistency, and favorable market conditions. New business value increased by 40% to R279 million, and the group's embedded value per share reached R39.29. Momentum Group also announced a further R1 billion share buyback program, in addition to its previous program, which was largely completed.