City Gen Ins recommends 10pc cash div

Dhaka,  Sun,  20 August 2017
Published : 16 Apr 2017, 11:39:53
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City Gen Ins recommends 10pc cash div

FE Online Report
The Board of Directors of City General Insurance Company has recommended 10 per cent cash dividend for the year ended on December 31, 2016, said an official disclosure on Sunday.

The final approval of shareholders will come during the annual general meeting (AGM) scheduled to be held on June 30 at 11:30am at BCIC Auditorium in Dhaka.

The record date for entitlement of dividend is on May 7.

The company has also reported earnings per share (EPS) of Tk 1.50, net asset value (NAV) per share of Tk 15.60 and net operating cash flow per share (NOCFPS) of Tk 0.57 for the year ended on December 31, 2016 as against Tk 1.37, Tk 14.67 and 1.01 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 (Sunday) following its corporate declaration.

Each share of company, which was listed on the Dhaka bourse in 2007, closed at Tk 17.20 on Thursday on DSE.

In 2015, the company disbursed 10 per cent stock dividend.

The company’s paid-up capital is Tk 619 million and authorised capital is Tk 2.0 billion, while the total number of securities is 61.96 million.

Sponsor-directors own 39.82 per cent stake in the company, while the institutional investors own 31.23 per cent, foreigners 1.36 per cent and the general public 27.59 per cent as on March 31, 2017, the DSE data shows.

-bb/rmc//
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