The Financial Express

Desh General Insurance declares 10pc cash dividend

| Updated: August 26, 2021 09:07:49

Desh General Insurance declares 10pc cash dividend

The board of directors of recently listed Desh General Insurance Company has recommended a 10 per cent cash 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 September 28 at 11:00 am, through a digital platform.

The record date is set for September 13, the company said in a filing with the Dhaka Stock Exchange (DSE) on Tuesday.

The non-life insurer has also reported earnings per share (EPS) of Tk 1.51, net asset value (NAV) per share of Tk 11.93 and net operating cash flow per share (NOCFPS) of Tk 2.08 for the year ended on December 31, 2020, as against Tk 1.36, Tk 11.62 and Tk 1.52 respectively for the same period of the previous year.

There will be no price limit on the trading of the shares of the company today, following its corporate declaration.

Each share of the ‘N’ category company, which made the trading debut on March 29 this year, closed at Tk 50.70 on Monday. Its shares traded between Tk 15 and Tk 56.80 in last year.

Desh General Insurance raised Tk 160 million by issuing 16 million ordinary shares under the fixed price method with an offer price of Tk 10 each.

The general insurer also disclosed first quarter (Q1) and second quarter (Q2) financial statements on Tuesday.

As per the Q1 financial statements, the company’s EPS was Tk 0.44 for January-March 2021 as against Tk 0.29 for January-March 2020.

In six months for January-June, 2021, its EPS was Tk 0.72 for January-June 2021 as against Tk 0.58 for January-June 2020.

The company’s paid-up capital is Tk 400 million and authorised capital is Tk 1.0 billion, while the total number of securities is 40 million.

The sponsor-directors own 60 per cent stake in the company, while institutional investors own 4.35 per cent and the general public 35.65 per cent as on July 31, 2021, the DSE data showed.

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