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The Financial Express

Two more insurers declare dividend for 2020

| Updated: June 04, 2021 10:32:50


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Two more general insurers – Asia Insurance and Global Insurance Company – have declared dividends for the year ended on December 31, 2020.

Asia Insurance: The board of directors of Asia Insurance has recommended 12 per cent cash for the year ended on December 31, 2020.

The final approval of the dividend will come during the annual general meeting (AGM) to be held on August 2 at 12:00 noon using the digital platform.

The record date is set for June 22, the company said in a filing with the Dhaka Stock Exchange (DSE) on Wednesday.

The non-life insurer has also reported earnings per share (EPS) of Tk 2.34, net asset value (NAV) per share of Tk 20.62 and net operating cash flow per share (NOCFPS) of Tk 5.99 for the year ended on December 31, 2020, as against Tk 1.60, Tk 19.50 and Tk 2.71 respectively for the same period of the previous year.

The insurer has also published first quarter (Q1) un-audited financial statements for January-March, 2021 on Wednesday. As per the Q1 reports, the company’s EPS stood at Tk 0.74 for January-March 2021 as against Tk 0.60 for January-March 2020.

Each share of the company, which was listed on the DSE in 2009, closed at Tk 111.80 on Tuesday. Its shares traded between Tk 17 and Tk 138.90 in the last year.

The company had disbursed 10 per cent cash dividend for the year ended on December 31, 2019.

The company’s paid-up capital is Tk 470.69 million, authorised capital is Tk 1.0 billion and the total number of securities is 47.06 million.

The sponsor-directors own 48.27 stakes in the company while the institutional investors own 22.01 per cent and the general public 29.72 per cent as of April 30, 2021, the DSE data show.

Global Insurance: The board of directors of The Global Insurance has recommended a 10 per cent cash dividend for the year ended on December 31, 2020.

The AGM will be held on August 14 at 11:00 am using the digital platform. The record date is set for June 22.

The general insurer has also reported EPS of Tk 1.53, NAV per share of Tk 12.75 and NOCFPS of Tk 4.89 for the year ended on December 31, 2020 as against Tk 0.96 (restated), Tk 11.69 (restated) and Tk 3.45 (restated) respectively for the same period of the previous year.

The non-life insurer has also published first quarter (Q1) un-audited financial statements for January-March, 2021 on Wednesday. As per the Q1 reports, the company’s EPS stood at Tk 1.02 for January-March 2021 as against Tk 1.00 for January-March 2020.

Each share of the company, which was listed on the DSE in 2005, closed at Tk 56.10 on Tuesday. Its shares traded between Tk 14.10 Tk 69.50 in the last year.

The company disbursed 5.0 per cent cash and 5.0 per cent stock dividend for the year ended on December 31, 2019.

The company’s paid-up capital is Tk 405.52 million, authorised capital is Tk 1.0 billion and the total number of securities is 40.55 million.

The sponsor-directors own 35.67 stakes in the company while the institutional investors own 21.21 per cent and the general public 43.12 per cent as of April 30, 2021, the DSE data show.

There will be no price limit on the trading of the shares of the companies today following their corporate declaration, however, as per the BSEC order dated March 19, 2020, the floor price shall be applicable accordingly.

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