4 years ago

BNIC recommends 12pc cash dividend

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The board of directors of Bangladesh National Insurance Company (BNIC) has recommended 12 per cent cash dividend for the year ended on December 31, 2018.

The final approval of dividend will come during the annual general meeting (AGM) scheduled to be held on June 26 at 10:00am at Spectra Convention Center Limited, House: 19, Road: 7, Gulshan: 1, Dhaka: 1212.

The record date for entitlement of the dividend is May 16, said an official discourse on Sunday.

The company has also reported earnings per share (EPS) of Tk. 2.00, net asset value (NAV) per share of Tk. 18.02 and net operating cash flow per share (NOCFPS) of Tk. 1.27 for the year ended on December 31, 2018 as against Tk. 1.64, Tk. 17.05 and Tk. 2.86 respectively for the same period of the previous year.

In 2017, the company disbursed 10 per cent cash dividend.

Each share of the company, which was listed on the Dhaka Stock Exchange (DSE) in 2016, closed at Tk 19.50 on Sunday, advancing 1.03 per cent over the previous day.

In the last one year, its share traded between Tk 13.50 and Tk 32.40 per cent each.

The company’s paid-up capital is Tk 442.50 million and authorised capital is Tk 1.0 billion while the total number of securities is 44.25 million.

The sponsor-directors own 50.52 per cent stake in the company, while the institutional investors own 6.70 per cent, foreign investors 0.10 per cent and the general public 42.68 per cent as on March 31, 2019, the DSE data shows.

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