Staff Reporter :
The board of directors of Desh General Insurance Company has recommended a 5 percent cash dividend for the year ended December 31, 2023.
The final approval of the dividend will come during the annual general meeting (AGM) scheduled to be held on September 15 at 11:00 a.m.
The record date is set for September 7, the company said in a filing with the Dhaka Stock Exchange (DSE) on Thursday.
The non-life insurer has also reported earnings per share (EPS) of Tk 1.04, net asset value (NAV) per share of Tk 11.90, and net operating cash flow per share (NOCFPS) of Tk 0.30 for the year ended on December 31, 2023, as against Tk 1.04, Tk 11.36, and Tk 1.49, respectively, for the same period of the previous year.
There will be no price limit on the trading of the shares of the company on Thursday, following its corporate declaration.
Desh General Insurance raised Tk 160 million by issuing 16 million ordinary shares under the fixed price method with an offer price of Tk 10 each.
The company’s paid-up capital is Tk 400 million and its authorised capital is Tk 1.0 billion, while the total number of securities is 40 million.
The prime objective of the company is to carry on the insurance, guarantee, and indemnity business.
Like most of the general insurance companies in the industry, Desh General Insurance underwrites risks in fire, marine, motor, and miscellaneous business areas.
The company started its journey in March 2000 with no subsidiary, and it does not belong to any holding company.
The sponsor-directors own a 60 percent stake in the company, while institutional investors own 6.68 percent and the general public 33.32 percent as of April 3, 2024, the DSE data showed.