Bangladesh National Insurance declares 15pc cash dividend

FE ONLINE REPORT | Monday, 26 April 2021

The board of directors of Bangladesh National 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) scheduled to be held on June 22 at 12:00 noon through a digital platform.

The record date is set on May 19, the company said in a filing with the Dhaka Stock Exchange (DSE) on Monday.

The insurer has also reported earnings per share (EPS) of Tk 2.32, net asset value (NAV) per share of Tk 20.17 and net operating cash flow per share (NOCFPS) of Tk 5.19 for the year ended on December 31, 2020 as against of Tk 2.23, Tk 19.05 and Tk 1.45 respectively for the same period of the previous year.

In 2019, the company disbursed 12 per cent cash dividend.

Each share of the company, which was listed on the DSE in 2016, closed at Tk 113 on Sunday. Its shares traded between Tk 17.10 and Tk 114.90 in the last one year.

The company’s paid-up capital is Tk 442.50 million and authorised capital is Tk 1.0 billion, while the total number of securities is 44.25 million.

The sponsor-directors own 59.54 per cent stake in the company while the institutional investors own 9.30 per cent, foreign investors 0.04 per cent, and the general public 31.12 per cent as of March 31, 2021, the DSE data shows.

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.

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