Business Report :
Delta Life Insurance Company has announced a 30% cash dividend for its shareholders for the financial year ending 31 December 2023.
With the declaration, the insurer is set to pay a 30% cash dividend to its shareholders for the fifth consecutive year, starting in 2019, according to data from the Dhaka Stock Exchange (DSE).
However, despite the consistent dividend announcements, Delta Life’s stock price dropped by 5% following the news, closing at Tk100.7 apiece today (15 August).
According to disclosures published on the DSE website today, the company’s board of directors made the recommendation for the 2023 dividend during a meeting held on 14 August.
Originally scheduled for 11 August, the meeting was postponed due to the volatile situation in the country following the departure of Sheikh Hasina to India.
To finalise the dividend and approve the audited financial statements, Delta Life will hold its annual general meeting (AGM) on 28 September, via a digital platform.
The record date for identifying shareholders eligible for the dividend has been set for 5 September.
The company has not yet published its quarterly financials for 2023. However, according to the financial statements till September 2022, Delta Life’s life insurance fund balance stood at Tk3,990.86 crore, a 3% increase from Tk3,874.52 crore in the same period the previous year.
