Eastland Insurance recommends 12pc dividend

| Updated: April 24, 2019 11:29:41

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The board of directors of Eastland Insurance Company Limited has recommended 7.0 per cent cash and 5.0 per cent stock dividend for the year ended on December 31, 2018.

The final approval of the dividend will come during the annual general meeting (AGM) scheduled to be held on June 27 at Six Seasons Hotel at Gulshan-2 in Dhaka, said an official disclosure on Wednesday.

The record date for entitlement of dividend is May 16.

The company has also reported earnings per share (EPS) of Tk 1.48, net asset value (NAV) per share of Tk 22.18 and net operating cash flow per share (NOCFPS) of Tk 0.93 for the year ended on December 31, 2018 as against Tk 2.02, Tk 21.59 and Tk 0.90 respectively for the same period of the previous year.

In 2017, the company disbursed 7.50 per cent cash and 7.50 per cent stock dividend.

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

Each share of the company, which was listed on the Dhaka bourse in 1994, closed at Tk 23.70 on Tuesday at the Dhaka Stock Exchange (DSE).

The company’s paid-up capital is Tk 738.66 million and authorised capital is Tk 1.0 billion while the total number of securities is 73.86 million.

The sponsor-directors own 33.81 per cent stake in the company, while the institutional investors own 29.11 per cent and the general public 37.08 per cent as on March 31, 2018, the DSE data shows.

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