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The Financial Express

Eastland Insurance recommends 10pc dividend

| Updated: April 13, 2021 10:34:21


Eastland Insurance recommends 10pc dividend

The board of directors of Eastland Insurance Company has recommended 7.0 per cent cash and 3.0 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 June 10 at 3:00pm through digital platform.

The record date is April 28, the company said in a filing with the Dhaka Stock Exchange (DSE) on Sunday.

The company has also reported EPS of Tk 1.12, NAV per share of Tk 21.32 and NOCFPS of Tk 0.85 for the year ended on December 31, 2020 as against Tk 1.38, Tk. 19.98, and Tk 0.75 respectively for the same period of the previous year.

The company has also informed that bonus share has been declared due to expansion of business by enhancing the company's capital base. The company has a plan to open several numbers of branches at key points of different districts.

In 2019, the company disbursed 5.0 per cent cash and 5.0 per cent stock dividend.

Each share of the company, which was listed on the DSE in 1994, closed at Tk 29.60 on Thursday last.

The company’s shares traded between Tk 20 and Tk 43.80 in the last one year.

The company’s paid-up capital is Tk 814.37 million and authorised capital is Tk 1.0 billion, while the total number of securities is 81.43 million.

The sponsor-directors own 43.13 per cent stake in the company while the institutional investors own 23.48 per cent and the general public 33.39 per cent as on February 28, 2021, the DSE data shows.

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.

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