Sandhani Life Ins recommends 20pc stock dividend

FE Online Report | Published: August 16, 2018 12:12:06 | Updated: August 19, 2018 10:36:42

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The board of directors of Sandhani Life Insurance Company has recommended 20 per cent stock dividend for the year ended on December 31, 2017, said an official disclosure on Thursday.

The final approval of dividend will come during the Annual General Meeting (AGM) scheduled to be held on September 30 at 11:30am in Dhaka.

The record date for entitlement of dividend is on September 13, 2018.

The Company has also reported consolidated earnings per share (EPS) of Tk 1.97, consolidated net asset value (NAV) per share of Tk 20.02 and consolidated net operating cash flow per share (NOCFPS) of negative Tk 0.24 for the year ended on December 31, 2017 as against Tk 1.68, Tk 21.56 and negative Tk 7.58 respectively for the same period of the previous year.

In 2017, the company also disbursed 20 per cent stock dividend.

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

Each share of the company, which was listed on the Dhaka bourse in 1996, closed at Tk 26.30 on Tuesday the Dhaka Stock Exchange (DSE).

The company’s paid-up capital is Tk 914 million and authorised capital is Tk 2.0 billion, while the total number of securities is 91.41 million.

Sponsor-directors own 30.41 per cent stake in the company while institutional investors own 25.29 per cent and the general public 44.30 per cent as on June 30, 2018, the DSE data shows.

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