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The Financial Express

Phoenix Insurance declares 15pc cash dividend for 2020

| Updated: June 08, 2021 11:37:41


Phoenix Insurance declares 15pc cash dividend for 2020

The board of directors of Phoenix Insurance Company has recommended a 15 per cent cash dividend 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 11 at 2:30 pm using the digital platform.

The record date is set on June 30, the company said in a filing with the Dhaka Stock Exchange (DSE) on Sunday.

The non-life insurer has also reported earnings per share (EPS) of Tk 2.33, net asset value (NAV) per share of Tk 39.10, and net operating cash flow per share (NOCFPS) of Tk 2.07 for the year ended on December 31, 2020, as against Tk 2.31, Tk 34.88 and Tk 0.63 respectively for the same period of the previous year.

The insurer also published first quarter (Q1) un-audited financial statements on Sunday. As per the Q1 reports, the company’s EPS stood at Tk 0.69 for January- March 2021 as against Tk 0.55 for January-March 2020.

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.

Each share of the company, which was listed on the DSE in 1994, closed at Tk 74.60 on Thursday last. Its shares traded between Tk 21.40 and Tk 74.60 in the last one year.

The company disbursed 12 per cent cash dividend for the year ended on December 31, 2019.

The company’s paid-up capital is Tk 403.42 million, authorised capital is Tk 1.0 billion and the total number of securities is 40.34 million.

The sponsor-directors own 37.80 stakes in the company while the institutional investors own 17.90 per cent and the general public 44.30 per cent as of April 30, 2021, the DSE data shows.

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