Eastland Ins recommends 12pc dividend

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. Each share of the company, which was listed on the Dhaka bourse in 1994, closed at Tk 23.20 on Tuesday, losing 2.11 per cent over the previous day. In the last one year, its share traded between Tk 17.60 and Tk 36.40 each.

— FE Report