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The Financial Express

Northern Islami Insurance declares 10pc cash dividend

| Updated: June 02, 2021 18:01:03


Northern Islami Insurance declares 10pc cash dividend

The board of directors of Northern Islami Insurance has recommended a 10 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 7 at 11:00 am using the digital platform.

The record date is set on June 23, the company said in a filing with the Dhaka Stock Exchange (DSE) on Tuesday.

The general insurance company has also reported earnings per share (EPS) of Tk 1.74, net asset value (NAV) per share of Tk 20.24, and net operating cash flow per share (NOCFPS) of Tk 6.53 for the year ended on December 31, 2020, as against Tk 1.72, Tk 19.49 and Tk 3.27, respectively for the same period of the previous year.

The general insurer also published its first quarter (Q1) un-audited financial statements on Tuesday. As per the Q1 reports, its EPS was Tk 0.59 for January-March 2021 as against Tk 0.54 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 company, which was listed on the DSE in 2008, closed at Tk 66.60 on Monday. Its shares traded between Tk 16.60 and Tk 69.80 in the last one year.

The company also provided a 10 per cent cash dividend for the year ended on December 31, 2019.

The company’s paid-up capital is Tk 426.60 million, authorised capital is Tk 1.0 billion and the total number of securities is 42.62 million.

The sponsor-directors own 31.55 stakes in the company while the institutional investors own 16.37 per cent and the general public 52.08 per cent as of April 30, 2021, the DSE data shows.

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