Nitol Insurance declares 10pc cash dividend

Published : 19 Apr 2021 08:45 PM

The board of directors of Nitol Insurance Company has recommended a 10 per cent cash dividend for the year ended on December 31, 2020.

The final approval of the dividend will come during the annual general meeting (AGM) scheduled to be held on June 20 at 11:00 am through the digital platform.

The record date is set for May 24, the company said in a filing with the Dhaka Stock Exchange (DSE) on Monday.

The company has also reported earnings per share (EPS) of Tk 2.84, net asset value (NAV) per share of Tk 27.23 and net operating 

cash flow per share (NOCFPS) of Tk 1.21 for the year ended on December 31, 2020, as against Tk 3.22, Tk 25.89 and Tk 3.13 respectively for the same period of the previous year.

In 2019, the non-life insurer disbursed a 15 per cent cash dividend. There will be no price limit on the trading of the shares of the company today following its corporate declaration; however, as per the BSEC order dated March 19, 2020, the floor price shall be applicable accordingly. Each share of the company, which was listed on the DSE in 2005, closed at Tk 56.50 on Sunday at DSE. The company’s shares traded between Tk 21.80 and Tk 76.80 in the last year.

The company’s paid-up capital is Tk 402.08 million and the authorised capital is Tk 500 million, while the total number of securities is 40.20 million. The sponsor-directors own 35 per cent stake in the company while the institutional investors own 8.09 per cent and the general public 56.91 per cent as on February 28, 2021, the DSE data showed.