Business Report :
Sandhani Life Insurance has declared a 12 per cent cash dividend to its shareholders for 2023, maintaining the same rate as the previous year.
The declaration came at a meeting of the company’s board of directors held on Saturday.
The life insurer will conduct its annual general meeting on 25 September to approve the dividend, with the record date set for 29 July.
At the end of 2023, the company’s consolidated earnings per share stood at Tk1.10, up from Tk0.80 in the previous year.
Its consolidated net asset value per share was Tk18.48, and its net operating cash flow per share was Tk0.35 negative as of 31 December 2023.
From January to March 2024, the company’s consolidated life revenue showed expenses, including claims, exceeding income by Tk 25.79 crore, down from Tk 30.82 crore in the same period in 2023. The Life Insurance Fund balance was Tk 684.16 crore, compared to Tk 691.43 crore a year earlier.
On Sunday, the share price of Sandhani Life Insurance closed at Tk24.40 on the Dhaka Stock Exchange.
As of May 31, 2024, sponsor directors retained a 29.45 per cent stake in Sandhani Life, institutions held 14.81 per cent, and general shareholders held 55.74 per cent of the shares.
Sandhani Life was listed on the stock exchanges in 1996. It provides life insurance coverage in remote areas across the country.
Its core business activities include micro insurance for poor people, ordinary life policies for the general public, group insurance for corporations, education policies for students, and hajj policies for religious individuals.