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Two more life insurers recommend dividend

FE Report | July 31, 2019 00:00:00


The board of directors of two life insurance companies - Sandhani Life Insurance and National Life Insurance - have recommended dividend for the year ended on December 31, 2018, according to official disclosure on Tuesday.

Sandhani Life: The board of directors of the company has recommended 15 per cent cash dividend for the year ended on December 31, 2018.

The final approval of dividend will come at the annual general meeting (AGM) scheduled to be held on September 29 at 11:30am in Dhaka.

The record date is on September 03.

The company has also reported consolidated earnings per share (EPS) of Tk 1.49, consolidated net asset value (NAV) per share of Tk 18.40 and consolidated net operating cash flow per share (NOCFPS) of negative Tk 2.94 for the year ended on December 31, 2018 as against Tk 1.97, Tk 20.02 and negative Tk 0.24 respectively for the same period of the previous year.

The company's share close at Tk 25.90 each on Tuesday on the Dhaka bourse, remaining unchanged over the previous day.

The company, which was listed on the DSE in 1996, disbursed 20 per cent stock dividend in 2017.

The company's paid-up capital is Tk 1.09 billion, authorised capital is Tk 2.0 billion and the total number of securities is 109.69 million.

The sponsor-directors own 30.41 per cent stake in the company, while institutional investors own 20.89 per cent and the general public 48.70 per cent as of June 30, 2019.

National Life Insurance: The board of directors of National Life Insurance has recommended 30 per cent cash dividend for the year ended on December 31, 2018.

The AGM will be held on September 25 at 11:00am in Dhaka. The record date is on August 22.

The company's share close at Tk 236.9 on Tuesday, losing 8.67 per cent over the previous day.

The company, which was listed on the DSE in 1995, disbursed 20 per cent cash and 15 per cent stock dividend in 2017.

The company's paid-up capital is Tk 1.08 billion, authorised capital is Tk 2.0 billion and the total number of securities is 108.52 million.

The sponsor-directors own 82.65 per cent stake in the company, while institutional investors own 10.92 per cent and the general public 6.43 per cent as of June 30, 2019.

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