Dhaka, Bangladesh (BBN)- The board of directors of two more insurance companies have recommended dividend for the year ended on December 31, 2017, according to separate official disclosure on Sunday.
The companies are Eastland Insurance and Bangladesh National Insurance.
Eastland Insurance: The board of directors of Eastland Insurance Company Limited has recommended 7.50 percent cash and 7.50 percent stock dividend for the year ended on December 31, 2017.
The final approval of the dividend will come during the annual general meeting (AGM) scheduled to be held on June 28 at 3:00pm at Golden Tulip-The Grandmark at Banani in Dhaka.
The record date for entitlement of dividend is May 15.
The company has also reported earnings per share (EPS) of BDT 2.17, net asset value (NAV) per share of BDT 23.21 and net operating cash flow per share (NOCFPS) of BDT 0.97 for the year ended on December 31, 2017 as against BDT 1.89, BDT 23.20 and BDT 0.85 respectively for the same period of the previous year.
In 2016, the company disbursed 10 percent cash and 5.0 percent stock dividend.
Each share of the company, which was listed on the Dhaka bourse in 1994, closed at BDT 21.50 on Thursday last at the Dhaka Stock Exchange (DSE).
The company’s paid-up capital is BDT 687.13 million and authorised capital is BDT 1.0 billion while the total number of securities is 68.71 million.
The sponsor-directors own 34.05 percent stake in the company, while the institutional investors 35.70 percent and the general public 30.25 percent as on March 31, 2018, the DSE data shows.
Bangladesh National Insurance: The board of directors of Bangladesh National Insurance Company has recommended 10 percent cash dividend for the year ended on December 31, 2017.
The final approval of the dividend will come during the annual general meeting (AGM) scheduled to be held on June 25 in Dhaka.
The record date for entitlement of dividend is May 17.
The company has also reported EPS of BDT 1.64, NAV per share of BDT 17.05 and NOCFPS of BDT 2.86 for the year ended on December 31, 2017 as against BDT 1.62, BDT 16.15 and BDT 2.34 respectively for the same period of the previous year.
In 2016, the company also disbursed 10 percent cash dividend.
Each share of the company, which was listed on the Dhaka bourse in 2016, closed at BDT 16.40 on Thursday last at the Dhaka Stock Exchange (DSE).
The company’s paid-up capital is BDT 442.50 million and authorised capital is BDT 1.0 billion while the total number of securities is 44.25 million.
The sponsor-directors own 50.74 percent stake in the company, while the institutional investors 0.83 percent, foreign 0.19 percent and the general public 48.24 percent as on March 31, 2018, the DSE data shows.
There will be no price limit on the trading of the shares of these tow companies today following their corporate declarations.
BBN/SSR/SR