Nitol Insurance declares 15pc cash dividend

The board of directors of Nitol Insurance Company Limited has recommended 15 per cent cash dividend for the year ended on December 31, 2019. The final approval of dividend will come during the annual general meeting scheduled to be held on March 31. The record date for entitlement of cash dividend is March 8, said an official disclosure on Thursday. 

The company has also reported earnings per share (EPS) of Tk 3.22, net asset value (NAV) per share of Tk 25.89 and net operating cash flow per share (NOCFPS) of Tk 3.13 for the year ended on December 31, 2019 as against Tk 2.96, Tk 24.17 and Tk 3.24 respectively for the same period of the previous year. Each share of the company, which was listed on the Dhaka bourse in 2005, closed at Tk 28.50 on Wednesday.

The company also disbursed 15 per cent cash dividend for the year ended on December 31, 2018.
The company’s paid-up capital is Tk 402.08 million and authorised capital is Tk 500 million while total number of securities is 40.20 million.

The sponsor-directors own 38.68 per cent stake in the company, while institutional investors own 17.80 per cent and the general public 43.52 per cent as of December 31, 2019, the DSE data showed.