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The Financial Express

Northern Insurance recommends 10pc cash dividend

| Updated: April 29, 2019 11:33:35


Photo collected from internet has been used for representational purpose only Photo collected from internet has been used for representational purpose only

The board of directors of Northern General Insurance Company Ltd has recommended 10 per cent cash dividend for the year ended on December 31, 2018.

The final approval of the dividend will come during the annual general meeting (AGM) scheduled to be held on June 23 in Dhaka, said an official disclosure on Sunday.

The record date for entitlement of dividend is May 19.

The insurer has also reported earnings per share (EPS) of Tk 1.65, net asset value (NAV) per share of Tk 20.60 and net operating cash flow per share (NOCFPS) of Tk 1.33 for the year ended on December 31, 2018 as against Tk 1.63, Tk 19.96 and Tk 3.22 respectively for the same period of the previous year.

In 2017, the company also disbursed 10 per cent cash dividend.

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

Each share of the company, which was listed on the Dhaka bourse in 2008, closed at Tk 17 on Thursday last.

In the last one year, its share traded between Tk 15.70 and Tk 30.80 each.

The company’s paid-up capital is Tk 426.60 million and authorised capital is Tk 1.0 billion while the total number of securities is 42.65 million.

The sponsor-directors own 36.25 per cent stake in the company, while the institutional investors own 33.13 per cent, and the general public 30.62 per cent as on March 31, 2018, the DSE data shows.

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