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The board of directors of Federal Insurance Company Limited has recommended 5.0 per cent stock 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 26 in Dhaka, said an official disclosure on Monday.
The record date for entitlement of dividend is May 22.
The insurer has also reported earnings per share (EPS) of Tk 0.52, net asset value (NAV) per share of Tk 11.47, net operating cash flow per share (NOCFPS) of Tk 1.07 for the year ended on December 31, 2018 as against Tk 0.58, Tk 11.50 and negative Tk 1.90 respectively for the same period of the previous year.
In 2017, the company disbursed also 5.0 per cent stock dividend.
There will be no price limit on the trading of the shares of the company today (Monday) following its corporate declaration.
Each share of the company, which was listed on the Dhaka bourse in 1995, closed at Tk 10 on Sunday.
In the last one year, its share traded between Tk 8.50 and Tk 17.10 each.
The company’s paid-up capital is Tk 644.35 million and authorised capital is Tk 1.0 billion while the total number of securities is 64.43 million.
The sponsor-directors own 32.07 per cent stake in the company, while the institutional investors own 3.51 per cent, and the general public 64.42 per cent as on March 31, 2018, the DSE data shows.