Crystal Insurance to pay 10pc cash dividend for 2020

FE ONLINE REPORT | Tuesday, 27 April 2021

Crystal Insurance Company, which was listed on the stock market in December 2020, has recommended a 10 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 10 through the digital platform. The meeting time will be notified later.

The record date is set for May 17, the company said in a filing with the Dhaka Stock Exchange (DSE) on Tuesday.

The non-life insurer has also reported earnings per share (EPS) of Tk 4.58, net asset value (NAV) per share of Tk 20.98 and net operating cash flow per share (NOCFPS) of Tk 8.27 for the year ended on December 31, 2020, as against Tk 2.92, Tk 24.42 and Tk 5.46 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.

Each share of the insurer, which was listed on the DSE on December 21, 2020, closed at Tk 47.80 on Monday. Its shares traded between Tk 15 and Tk 57.50 after listing with the stock market.

The company’s paid-up capital is Tk 400 million and authorised capital is Tk 1.0 billion, while the total number of securities is 40 million.

The sponsor-directors own 60 per cent stake in the company while the institutional investors own 6.77 per cent, foreign investors 0.02 per cent and the general public 33.21 per cent as on March 31, 2021, the DSE data shows.

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