The Financial Express

Agrani Insurance declares 5.0pc cash, 5.0pc stock dividend

| Updated: March 18, 2021 14:53:22

Agrani Insurance declares 5.0pc cash, 5.0pc stock dividend

The board of directors of Agrani Insurance Company has recommended 5.0 per cent cash and 5.0 per cent stock dividend for the year ended on December 31, 2020.

The final approval of the dividend will come during the annual general meeting (AGM) scheduled to be held on April 28 at 11:00 am using a digital platform.

The record date is April 6, the company said in a filing with the Dhaka Stock Exchange on Monday.

The general insurer has also reported earnings per share (EPS) of Tk 1.72, net asset value (NAV) per share of Tk 18.11, and net operating cash flow per share (NOCFPS) of Tk 2.33 for the year ended on December 31, 2020 as against Tk 1.26, Tk 17.39 and negative Tk 0.71 respectively for the same period of the previous year.

The company also informed that reasons for the declaration of bonus shares for increased of paid-up capital which was a requirement of regulatory body i.e. Insurance Development and Regulatory Authority (IDRA).

There will be no price limit on the trading of the shares of the Company today following its corporate declaration, however, as per the BSEC order dated March 19, 2020, the floor price shall be applicable accordingly.

Each share of the company, which was listed on the Dhaka bourse in 2005, closed at Tk 34.10 on Sunday. Its shares traded between Tk 14.40 and Tk 46.50 each in the last year.

The non-life insurer disbursed 10 per cent cash dividend for the year ended on December 31, 2019.

Its paid-up capital is Tk 302.45 million and authorised capital is Tk 500 million while total number of securities is 30.24 million.

The sponsor-directors own 30.72 per cent stake in the company, while the institutional investors own 7.28 per cent and the general public 62 per cent as on February 28, 2021, the DSE data show.

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