Standard Insurance recommends 10pc cash dividend

The board of directors of Standard Insurance Ltd has recommended 10 per cent cash dividend for the year ended on December 31, 2019.

The final approval of the dividend will come during the annual general meeting (AGM) scheduled to be held on September 9 at 11:00am through digital platform. The record date is August 20.

The company has also reported EPS of Tk. 1.88, NAV per share of Tk. 18.02 and NOCFPS of Tk. 2.44 for the year ended on December 31, 2019 as against Tk. 1.83 (restated), Tk. 16.14 and Tk. 3.12 respectively for the same period of the previous year.

The insurer has also disclosed first quarter and second quarter financial statements on Wednesday.

As per the Q2 financial statements, its EPS was Tk. 0.52 for April-June 2020 as against Tk. 0.68 for April-June 2019.

In six months for January-June 2020, its EPS was Tk. 1.07 as against Tk. 1.16 for January-June 2019. NOCFPS was Tk. 0.61 for January-June 2020 as against Tk. 0.95 for January-June 2019. NAV per share was Tk. 19.09 as on June 30, 2020 and Tk. 18.02 as on December 31, 2019. Listed in 2008, each share of the company closed at Tk 40 on Tuesday.

In 2018, the company disbursed 10 per cent stock dividend.

The company’s paid-up capital is Tk 432.97 million, authorised capital is Tk 1.0 billion and the total number of securities is 43.29 million.

Sponsor-directors own 52.40 per cent stake in the company while the institutional investors own 7.56 per cent, and general public 40.04 per cent as on June 30, 2020, the DSE data showed.