Pragati Insurance recommends 13pc cash, 7.0pc stock dividends

The board of directors of Pragati Insurance Limited has recommended 13 per cent cash and 7.0 per cent stock dividend for the year ended on December 31, 2018.

The final approval of dividend will come during the annual general meeting (AGM) scheduled to be held on June 27 at KIB Auditorium in Dhaka, said an official disclosure on Monday.

The record date for entitlement of the dividend is May 16.

In 2018, Pragati Insurance Limited which was listed on the Dhaka bourse in 1996, disbursed 13 per cent cash and 5.0 per cent stock dividend.

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

The company has also reported consolidated earnings per share (EPS) of Tk 3.02, consolidated net asset value (NAV) per share of Tk 53.05 and consolidated net operating cash flow per share (NOCFPS) of Tk 0.61 for the year ended on December 31, 2018 as against Tk 2.66, Tk 54.54 and Tk 0.54 respectively for the same period of the previous year.

The company’s paid-up capital is Tk 612.99 million and authorised capital is Tk 2.0 billion while the total number of securities is 61.29 million, according to the DSE website.

The sponsor-directors own 55.68 per cent stake in the company, while the institutional investors own 28.33 per cent, foreign and the general public 15.99 per cent.

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