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The Financial Express

Dhaka Insurance declares 20pc cash dividend for 2020

| Updated: June 13, 2021 11:38:50


Dhaka Insurance declares 20pc cash dividend for 2020

The board of directors of Dhaka Insurance has recommended a 20 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 August 10 at 11:00 am using a digital platform.

The record date is set for July 1, the company said in a filing with the Dhaka Stock Exchange (DSE) on Thursday.

The general insurer has also reported EPS of Tk 2.89, NAV per share (with revaluation) of Tk. 31.61, NAV per share (without revaluation) of Tk. 20.98 and NOCFPS of Tk. 1.45 for the year ended on December 31, 2020, as against Tk 2.06, Tk. 30.13, Tk. 19.49 and Tk. 1.60 respectively for the same period of the previous year.

The company has also disclosed the first quarter (Q1) un-audited financial statements on Thursday. As per the Q1 reports, its EPS was Tk 0.70 for January-March 2021 as against Tk 0.63 for January-March 2020.

The non-life insurer has informed that EPS has increased due to the fact that gross premium income, reinsurance commission, interest, rental and other income received during the quarter are more than that of the corresponding 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; 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 DSE in 2010, closed at Tk 106.10 on Wednesday. Its shares traded between Tk 24 and 119.40 in the last year.

The company disbursed 15 per cent cash dividend for the year ended on December 31, 2019. In 2018, it had also provided 15 per cent cash dividend.

The company’s paid-up capital is Tk 401.25 billion, authorised capital is Tk 1.20 billion and the total number of securities is 40.12 million.

The sponsor-directors own 61.35 stakes in the company while the institutional investors own 16.36 per cent, foreign investors 0.10 per cent and the general public 22.19 per cent as of April 30, 2021, the DSE data show.

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