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The Financial Express
Swasti Lankabangla Swasti Lankabangla

Eastland Insurance recommends 15pc dividend

| Updated: April 23, 2018 10:28:42


Representational image Representational image

The board of directors of Eastland Insurance Company Limited has recommended 7.50 per cent cash and 7.50 per cent stock dividend for the year ended on December 31, 2017.

The final approval of the dividend will come during the annual general meeting (AGM) scheduled to be held on June 28 at 3:00pm at Golden Tulip-The Grandmark at Banani in Dhaka, said an official disclosure on Sunday.

The record date for entitlement of dividend is May 15.

The company has also reported earnings per share (EPS) of Tk 2.17, net asset value (NAV) per share of Tk 23.21 and net operating cash flow per share (NOCFPS) of Tk 0.97 for the year ended on December 31, 2017 as against Tk 1.89, Tk 23.20 and Tk 0.85 respectively for the same period of the previous year.

In 2016, the company disbursed 10 per cent cash and 5.0 per cent stock dividend.

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

Each share of the company, which was listed on the Dhaka bourse in 1994, closed at Tk 21.50 on Thursday last at the Dhaka Stock Exchange (DSE).

The company’s paid-up capital is Tk 687.13 million and authorised capital is Tk 1.0 billion while the total number of securities is 68.71 million.

The sponsor-directors own 34.05 per cent stake in the company, while the institutional investors 35.70 per cent and the general public 30.25 per cent as on March 31, 2018, the DSE data shows.

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