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The Financial Express

Four insurers declare dividend 

| Updated: July 16, 2020 09:53:54


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The board of directors of four insurance companies have recommended dividend for the year ended on December 31, 2019, according to separate official disclosures on Sunday.

The companies are-- Eastland Insurance, Asia Pacific Insurance, Eastern Insurance, and Purabi General Insurance.

Eastland Insurance: The board of directors has recommended 5.0 per cent cash, and 5.0 per cent stock dividend for the year ended on December 31, 2019.

The final approval will come during the annual general meeting (AGM) scheduled to be held on September 3 at 3:00 pm through a digital platform.

The record date is August 6.

The company has also reported earnings per share (EPS) of Tk 1.45, net asset value (NAV) per share of Tk 21.00, and net operating cash flow per share (NOCFPS) of Tk. 0.78 for the year ended on December 31, 2019 as against Tk. 1.41, Tk. 21.00 and Tk. 0.89 respectively for the same period of the previous year.

The insurance company also informed that bonus shares declared to expand the company’s business by enhancing the company’s capital base and the additional capital will be used for new branches at the district level.

Asia Pacific Insurance: The board of directors has recommended 10 per cent cash dividend for the year ended on December 31, 2019.

The AGM will be held on August 20 at 11:00 am through a digital platform. The record date is July 27.

The private company has also reported EPS of Tk. 1.74, NAV per share of Tk. 19.66 and NOCFPS of Tk. 2.10 for the year ended on December 31, 2019 as against Tk. 1.55, Tk. 18.92 and Tk. 2.57 respectively for the same period of the previous year.

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.

Eastern Insurance: The board of directors has recommended 20 per cent cash dividend for the year ended on December 31, 2019.

The date of the AGM and venue will be notified later.

The record date is July 26.

The company has also reported EPS of Tk. 3.65, NAV per share of Tk. 44.54 and NOCFPS of Tk. 3.25 for the year ended on December 31, 2019 as against Tk. 3.56, Tk. 42.53 and Tk. 3.73 respectively for the same period of the previous year.

Purabi General Insurance: The board of directors has recommended 10 per cent cash dividend for the year ended on December 31, 2019.

The AGM will be held on September 30 Date at 12:00noon through a digital platform as per BSEC order. The record date is August 17.

The company has also reported EPS of Tk. 1.01, NAV per share of Tk. 12.90 and NOCFPS of Tk. 0.43 for the year ended on December 31, 2019 as against Tk. 1.05, Tk. 13.05 and negative Tk 0.14 respectively for the same period of the previous year.

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

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