The Financial Express

Express Insurance declares 2.0pc final dividend

| Updated: August 31, 2021 08:59:03

Express Insurance declares 2.0pc final dividend

The board of directors of Express Insurance Company has recommended a 2.0 per cent final cash dividend for the year ended on December 31, 2020.

With the latest, the company now declared a total 7.0 per cent cash dividend for the year ended on December 31, 2020, including the 5.0 per cent interim cash dividend which has already been paid.

The final approval of the dividend will come at the annual general meeting (AGM) scheduled to be held on December 9 at 11:00 am, through a digital platform.

The record date is set for October 7, the company said in a filing with the DSE on Sunday.

The company has also reported earnings per share (EPS) of Tk 1.64, net asset value (NAV) per share of Tk 19.00 and net operating cash flow per share (NOCFPS) of Tk 4.40 for the year ended on December 31, 2020 as against Tk 0.97 (restated), Tk 13.25 (restated) and Tk 2.42 (restated) 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 was listed on the DSE last year, closed at Tk 40.30 on Thursday last. Its shares traded between Tk 22.10 and Tk 47 in last year.

The company’s paid-up capital is Tk 651.97 million and authorised capital is Tk 750 million, while the total number of securities is 65.19 million.

The sponsor-directors own 60 per cent stake in the company, while institutional investors own 4.72 per cent and the general public 35.28 per cent as on July 31, 2021, the DSE data showed.

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