Bangladesh National Insurance recommends 15% cash dividend
Its net profit rose by 81% in the January-March quarter of this year
Bangladesh National Insurance has recommended a 15% cash dividend for its shareholders for 2020, an increase from 12% of the previous year.
The company, which got listed on the stock exchanges in 2016, has reported a 4% year-on-year growth in net profit.
In the January-March period of this year, the company's net profit rose by 81%, compared to the same time of the previous year.
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After the board of directors' meeting on Sunday, the company said its earnings per share (EPS) stood at Tk2.32 in 2020, which was Tk2.23 in the previous year.
Its net asset value stood at Tk89.24 crore, which was Tk84.29 crore a year earlier.
The company will hold its annual general meeting on 22 June through a digital platform. It has set 19 May as the record date.
Big jump in the first-quarter profit
Bangladesh National Insurance, which reported just a 4% net profit growth, has posted an impressive 81% jump in profit in the first three months of 2021.
In the January-March period, the company's net profit was Tk4.45 crore and EPS Tk1.01, compared to Tk2.45 crore and Tk0.56 respectively in the same quarter of the previous year.
According to the financial statements, its net premium income, and underwriting profit rose to Tk13.05 crore and Tk6.72 crore, which was Tk12.33 crore and Tk3.26 crore in the same time of the previous year.
As of March 2021, out of the total 44,250,000 shares of the company, sponsors and directors held 56.54%, institutional investors 9.30%, foreign investors 0.04%, and general public 31.12%.
