Dhaka, Bangladesh (BBN) – Bangladesh’s Standard Insurance company is promoted to “A” category from existing “Z” category with effect from Tuesday.
The insurance company’s promotion came as it reported disbursement of 10 percent stock dividend for the year ended on December 31 in 2016, said an official disclosure on Monday.
The insurer has also reported earnings per share (EPS) of BDT 0.98, net asset value (NAV) per share of BDT 17.26 and net operating cash flow per share (NOCFPS) of BDT (0.40) for the year ended on December 31, 2016 as against BDT 2.59, BDT 17.91 and BDT 0.002 respectively for the same period of the previous year.
“The stock brokers and merchant bankers are requested to abstain from providing loan facilities to purchase any security of Standard Insurance in between 1st to 30th trading day after change of categorization, with effect from August 08, 2017 as per BSEC directive,” according to a statement posted on the Dhaka Stock Exchange (DSE) website on Monday.
Recently, the company also disclosed second quarter (Q2) financial statement. As per Q2 reports, EPS was BDT 0.44 for April-June, 2017 as against BDT 0.11 for the same quarter a year ago.
In six months for January-June, 2017, EPS was BDT 0.84 as against BDT 0.18 for January-June, 2016.
The company’s share price closed at BDT 20.90 each on Sunday, at the Dhaka Stock Exchange (DSE).
Standard Insurance, which was listed on the Dhaka bourse in 2008, disbursed 10 per cent stock dividend in 2015.
The company’s paid-up capital of the company is BDT 357.82 million and authorised capital is BDT 1.0 billion while total number of securities is 35.78 million.
Sponsor-directors own 52.40 percent stake in the company, while institutional investors own 14.45 percent and general public 33.15 percent as of July 31, 2017, the DSE data showed.