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Phoenix Insurance recommends 12pc cash dividend

FE Online Report | Published: April 25, 2019 12:30:50 | Updated: April 26, 2019 10:39:57


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The board of directors of Phoenix Insurance Company Limited has recommended 12 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 19 in Dhaka, said an official disclosure on Thursday.

The record date for entitlement of dividend is May 20.

The company has also reported EPS of Tk 2.56, NAV per share of Tk 37.01 and NOCFPS of Tk 1.85 for the year ended on December 31, 2018 as against Tk 2.78 (restated), Tk 39.85 (restated) and Tk 3.48 respectively for the same period of the previous year.

The company noted that EPS was restated due to change of provision for deferred tax liability on revaluation of land, building of the company in the year 2017.

The NAV per share to the financial statements as on December 31, 2017 was restated according to the guideline of the Para-42(a) of IAS-8.

In 2017, the company disbursed 16 per cent cash dividend.

Each share of the company, which was listed on the Dhaka bourse in 1994, closed at Tk 28.80 on Wednesday, advancing 0.70 per cent over the previous day.

In the last one year, its share traded between Tk 21.10 and Tk 43.30 each.

The company’s paid-up capital is Tk 403.42 million and authorised capital is Tk 1.0 billion while the total number of securities is 40.34 million.

The sponsor-directors own 46.90 per cent stake in the company, while the institutional investors own 23.62 per cent, and the general public 29.48 per cent as on March 31, 2018, the DSE data shows.

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