Asia Insurance declares 10pc cash dividend


FE ONLINE REPORT | Published: July 13, 2020 11:57:07 | Updated: July 16, 2020 09:53:50


Asia Insurance declares 10pc cash dividend

The board of directors of Asia Insurance has recommended 10 per cent cash dividend for the year ended on December 31, 2019.

The final approval of the dividend will come during the annual general meeting scheduled to be held on September 20 at 12:00 noon through digital platform as per BSEC order, said an official disclosure on Monday.

The record date is August 9.

The company has also reported earnings per share (EPS) of Tk 1.60, net asset value (NAV) per share of Tk 19.50 and net operating cash flow per share (NOCFPS) of Tk 2.71 for the year ended on December 31, 2019 as against Tk 1.41, Tk 18.95 and Tk 2.78 (restated) respectively for the same period of the previous year.

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

The company has also disclosed first quarter financial statements on Monday. As per the Q1 financial reports, its EPS was Tk 0.60 for January-March 2020 as against Tk 0.54 for January-March 2019.

Each share of the company, which was listed on the Dhaka bourse in 2009, closed at Tk 18.20 on Sunday.

Its shares traded between Tk 14.40 and Tk 31.10 in the past one year on Dhaka Stock Exchange.

The company also disbursed 10 per cent cash dividend to its investors in 2018.

Currently, the company’s paid-up capital is Tk 470.69 million, authorised capital is Tk 1.0 billion and the total number of shares is 47.06 million.

The sponsors-directors own 44.93 per cent stake in the company, while the institutional investors own 12.03 per cent, and the general investors 43.04 per cent as on February 29, 2020.

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