Nitol Insurance Company has recommended 14 per cent cash dividend for the year ended on December 31, 2017, said an official disclosure on Wednesday.
The final approval of this dividend will come during the annual general meeting (AGM) scheduled to be held on May 8 in Dhaka.
The record date for entitlement of dividend is on March 29, 2017.
The insurer has also reported earnings per share (EPS) of Tk 2.78, net asset value (NAV) per share of Tk 28.18 and net operating cash flow per share (NOCFPS) of Tk 2.98 for the year ended on December 31, 2017 as against Tk 2.77, Tk 24.18 and Tk 4.05 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 (Wednesday) following its corporate declaration.
Each share price of the company, which was listed on the Dhaka bourse in 2005 closed at Tk 33.50 on Tuesday at Dhaka Stock Exchange (DSE).
The company disbursed 13 per cent stock dividend for the year ended on December 31, 2016.
The company’s paid-up capital is Tk 352.70 million and authorised capital is Tk 500 million while the total number of securities is 35.26 million.
The sponsor-directors own 46.29 per cent stake in the company, while the institutional investors own 15.17 per cent and the general public 38.53 per cent as on January 31, 2018, the DSE data shows.
