Republic Insurance declares 14pc dividend for 2020


FE Online Report | Published: May 27, 2021 09:58:55 | Updated: May 30, 2021 11:08:28


Republic Insurance declares 14pc dividend for 2020

The board of directors of Republic Insurance Company has recommended 7.0 per cent cash and 7 per cent stock 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 July 27 at 11:00 am using the digital platform.

The record date is set on June 24, the company said in a filing with the Dhaka Stock Exchange (DSE) on Thursday.

The company has also reported earnings per share (EPS) of Tk 2.36, NAV net asset value (NAV) per share of Tk 16.18 and net operating cash flow per share (NOCFPS) of Tk 2.95 for the year ended on December 31, 2020 as against Tk 1.89 (restated), Tk 15.49 and Tk 2.24 respectively for the same period of the previous year.

The general insurer also published first quarter (Q1) un-audited financial statements for January-March, 2021 on Thursday. As per the Q1 reports, the company’s EPS stood at Tk 0.60 for January-March 2021 as against Tk 0.54 for January-March 2020.

There will be no price limit on the trading of the shares of the company today following its corporate declaration; however, as per the BSEC order dated March 19, 2020, the floor price shall be applicable accordingly.

Each share of the company, which was listed on the DSE in 2009, closed at Tk 61.70 on Tuesday. Its shares traded between Tk 18.60 and Tk 64.70 in the last one year.

The company also provided 7.0 per cent cash and 7.0 per cent stock dividend for the year ended on December 31, 2019.

The company’s paid-up capital is Tk 463.72 million, authorised capital is Tk 1.0 billion and the total number of securities is 46.37 million.

The sponsor-directors own 31.67 stakes in the company while the institutional investors own 24.33 per cent and the general public 44 per cent as of April 30, 2021, the DSE data shows.

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