The Financial Express

Federal Insurance to pay 10pc dividend for 2020

| Updated: June 10, 2021 11:09:19

Federal Insurance to pay 10pc dividend for 2020

The board of directors of Federal Insurance Company has recommended 5.0 per cent cash and 5.0 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 August 4 at 11:00 am using a digital platform.

The record date is set for July 7, the company said in a filing with the Dhaka Stock Exchange (DSE) on Wednesday.

The general insurer has also reported earnings per share (EPS) of Tk 1.33, net asset value (NAV) per share of Tk 12.40 and net operating cash flow per share (NOCFPS) of Tk 3.95 for the year ended on December 31, 2020, as against Tk 0.67, Tk 11.57 and Tk 1.46 respectively for the same period of the previous year.

The non-life insurer also disclosed the first quarter (Q1) un-audited financial statements on Wednesday. As per the Q1 reports, its consolidated EPS was Tk 0.33 for January-March 2021 as against Tk 0.27 for January-March 2020.

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 insurer, which was listed on the DSE in 1995, closed at Tk 48.70 on Tuesday. Its shares traded between Tk 10.20 and Tk 48.70 in the last year.

The company disbursed had 5.0 per cent cash dividend for the year ended on December 31, 2019.

The company’s paid-up capital is Tk 676.57 million, authorised capital is Tk 1.0 billion and the total number of securities is 67.65 million.

The sponsor-directors own 38.26 stakes in the company while the institutional investors own 14.02 per cent and the general public 47.72 per cent as of April 30, 2021, the DSE data shows.

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