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The board of directors Continental Insurance Limited has recommended 5.0 per cent cash and 5.0 per cent stock dividend for the year ended on December 31, 2017, said an official disclosure on Monday.
The final approval of the dividend will come during the annual general meeting scheduled to be held on June 27 in Dhaka.
The record date for entitlement of dividend is May 20.
The company has also reported earnings per share (EPS) of Tk 1.49, net asset value (NAV) per share of Tk 19.06, and net operating cash flow per share (NOCFPS) of Tk 1.33 for the year ended on December 31, 2017 as against Tk 1.44, Tk 18.59, and Tk 0.86 respectively for the same period of the previous year.
In 2016, the company also disbursed 5.0 per cent cash and 5.0 per cent stock dividend.
There will be no price limit on the trading of the shares of the company today (Monday) following its corporate declaration.
Each share of Continental Insurance, which was listed on the Dhaka bourse in 2008 closed at Tk 18.90 on Sunday at the Dhaka Stock Exchange (DSE).
The company’s paid-up capital is Tk 345.58 billion and authorised capital is Tk 600 million while the total number of securities is 34.55 million.
The sponsor-directors own 30.01 per cent stake in the company, while the institutional investors 42.97 per cent and the general public 27.02 per cent as on February 28, 2018, the DSE data shows.