The board of directors of Bangladesh General Insurance Company (BGIC) has recommended 10 per cent cash dividend for the year ended on December 31, 2017, said an official disclosure on Thursday.
The final approval of the dividend will come during the annual general meeting (AGM) scheduled to be held on June 25 in Dhaka.
The record date for entitlement of dividend is May 21.
The company has also reported earnings per share (EPS) of Tk 1.10, net asset value (NAV) per share of Tk 19.76 and net operating cash flow per share (NOCFPS) of Tk 0.69 for the year ended on December 31, 2017 as against Tk 0.97, Tk 19.48 and Tk 1.29 respectively for the same period of the previous year.
In 2016, the company also disbursed 11 per cent cash dividend.
There will be no price limit on the trading of the shares of the bank on today (Thursday) following its corporate declaration.
Each share of the company, which was listed on the Dhaka bourse in 1989, closed at Tk 19.80 on Wednesday at the Dhaka Stock Exchange (DSE).
The company’s paid-up capital is Tk 540.27 million and authorised capital is Tk 1.0 billion while the total number of securities is 54.02 million.
The sponsor-directors own 16.16 per cent stake in the company, while the institutional investors own 44.64 per cent and the general public 39.20 per cent as on March 29, 2018, the DSE data shows.
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