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The Financial Express
Swasti Lankabangla Swasti Lankabangla

Continental Insurance declares 10pc dividend

| Updated: June 27, 2020 11:12:33


Continental Insurance declares 10pc dividend

The board of directors of Continental Insurance Ltd 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 of the dividend will come during the annual general meeting (AGM) scheduled to be held on August 20 at 11.00am through digital platform.

The record date for entitlement of the dividend is July 20.

The insurer has also reported EPS of Tk. 1.84, NAV per share of Tk. 19.63 and NOCFPS of negative Tk. 1.25 for the year ended on December 31, 2019 as against Tk. 1.55, Tk. 19.56 and Tk. 1.40 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.

The company also disclosed first quarter (Q1) earnings results on Thursday. As per the disclosure, its EPS was Tk 0.47 for January-March 2020 which was Tk 0.56 for January-March 2019.

In 2018, the company also disbursed 5.0 per cent cash and 5.0 per cent stock dividend.

Each share of the company, which was listed on the Dhaka bourse in 2008, closed at Tk 18.30 on Wednesday.

In the last one year, its share traded between Tk 15.50 and Tk 26.80 per share.

The company’s paid-up capital is Tk 381 million, authorised capital is Tk 600 million and the total number of securities is 38.10 million.

Sponsor-directors own 27.86 per cent stake in the company while the institutional investors own 22.17 per cent and general public 49.97 per cent as on December 31, 2019, the DSE data showed.

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