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Dhaka Ins declares 20pc cash dividend for 2020

FE REPORT | June 11, 2021 00:00:00

The board of directors of Dhaka Insurance has recommended a 20 per cent cash dividend for the year ended on December 31, 2020.

The final approval of the dividend will come during the annual general meeting (AGM) scheduled to be held on August 10 at 11:00am using the digital platform.

The record date is set on July 4, the company said in a filing with the Dhaka Stock Exchange (DSE) on Thursday.

The general insurer has reported earnings per share (EPS) of Tk 2.89, net asset value (NAV) per share (with revaluation) of Tk 31.61, NAV per share (without revaluation) of Tk 20.98 and net operating cash flow per share (NOCFPS) of Tk 1.45 for the year ended on December 31, 2020 as against Tk 2.06, Tk 30.13, Tk 19.49 and Tk 1.60 respectively for the same period of the previous year.

The company has also disclosed first quarter (Q1) un-audited financial statements on Thursday. As per the Q1 reports, its EPS was Tk 0.70 for January-March 2021 as against Tk 0.63 for January-March 2020.

The insurer has informed that EPS has increased as gross premium income, reinsurance commission, interest, rental and other income received during the quarter increased than that of corresponding period of previous year.

Each share of the company, which was listed on the DSE in 2010, closed at Tk 93.90 on Thursday, losing 11.50 per cent over the previous day despite higher dividend declaration. It was also the day's worst loser.

The company disbursed 15 per cent cash dividend for the year ended on December 31, 2019. In 2018, it also provided 15 per cent cash dividend.

The company's shares traded between Tk 24 and Tk 119.40 in the last one year.

The company's paid-up capital is Tk 401.25 billion, authorised capital is Tk 1.20 billion and the total number of securities is 40.12 million.

The sponsor-directors own 61.35 per cent stakes in the company while the institutional investors own 16.36 per cent, foreign investors 0.10 per cent and the general public 22.19 per cent as of April 30, 2021, the DSE data shows.

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