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The Financial Express

Pioneer Insurance recommends 20pc cash dividend

| Updated: August 06, 2020 21:13:08


Pioneer Insurance recommends 20pc cash dividend

The board of directors of Pioneer Insurance Company Limited has recommended a 20 per cent cash dividend for the year ended on December 31, 2019.

The final approval of the dividend will come during the annual general meeting (AGM) scheduled to be held on September 3 at 11:00 am digital platform.  The record date is August 16, said an official disclosure on Thursday.

The insurer has also reported EPS of Tk 4.89, NAV per share of Tk. 44.09 and NOCFPS of Tk. 5.48 for the year ended on December 31, 2019, as against Tk. 3.82, Tk. 45.08 and Tk. 4.78 respectively for the same period of the previous year.

The company has also disclosed the first quarter (Q1) and second quarter (Q2) financial statements on Thursday.

As per the Q2 financial reports, its EPS was Tk. 1.99 for April-June 2020 as against Tk. 1.46 for April-June 2019.

In six months, EPS was Tk. 4.02 for January-June 2020 as against Tk. 2.51 for January-June 2019.

In 2018, it disbursed a total 15 per cent cash dividend.

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 Dhaka bourse in 2001, closed at Tk 40.30 on Wednesday.

The company’s paid-up capital is Tk 699.81 million, authorised capital is Tk 1.0 billion and the total number of securities is 69.98 million.

The sponsor-directors own 45.65 per cent stake in the company, while institutional investors own 23 per cent and the general public 31.35 per cent as on June 30, 2020.

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