Eastland Ins recommends 15pc div

Dhaka,  Tue,  26 September 2017
Published : 17 Apr 2017, 11:50:56

Eastland Ins recommends 15pc div

FE Online Report
The board of directors of Eastland Insurance Company has recommended 10 per cent cash and 5.0 per cent stock dividend for the year ended on December 31, 2016, said an official disclosure on Monday.

The final approval of shareholders will come during the annual general meeting (AGM) scheduled to be held on May 24 at 3:00pm at Spectra Convention Centre in Dhaka.

The record date for entitlement of dividend is on May 8.

The company has also reported EPS of Tk 1.98, NAV per share of Tk 24.36 and NOCFPS of Tk 0.90 for the year ended on December 31, 2016 as against Tk 1.84, Tk 22.47 and Tk 1.00 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.

Each share of company, which was listed on the Dhaka bourse in 1994, closed at Tk 22.40 on Sunday at DSE.

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

The company’s paid-up capital is Tk 654 million and authorised capital is Tk 1.0 billion, while the total number of securities is 65.44 million.

Sponsor-directors own 34.39 per cent stake in the company, while the institutional investors own 31.31 per cent and the general public 34.30 per cent as on March 31, 2017, the DSE data shows.

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