The board of directors of Federal Insurance Company Limited has recommended 5.0 per cent stock 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 24 in Dhaka.
The record date for entitlement of dividend is May 23.
The company has also reported earnings per share (EPS) of Tk 0.58, net asset value (NAV) per share of Tk 11.50 and net operating cash flow per share (NOCFPS) of minus Tk 1.90 for the year ended on December 31, 2017 as against Tk. 0.54, Tk. 11.47 and Tk. 0.48 respectively for the same period of the previous year.
In 2016, the company also disbursed 5.0 per cent stock 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 1995, closed at Tk 10 on Wednesday at the Dhaka Stock Exchange (DSE).
The company’s paid-up capital is Tk 613.67 million and authorised capital is Tk 1.0 billion while the total number of securities is 61.36 million.
The sponsor-directors own 29.95 per cent stake in the company, while the institutional investors own 6.93 per cent and the general public 63.12 per cent as on March 29, 2018, the DSE data shows.
