Dividend: Paramount Insurance declares 10%, Acme Pesticides 0.10%

Paramount Insurance and Acme Pesticides — two listed companies on the stock market — have recommended 10% and 0.10% cash dividends, respectively, to their shareholders.

Paramount Insurance declared the dividend for the year 2023 ended on 31 December, while Acme Pesticides for fiscal year 2022-23 ended on 30 June.

Both companies disclosed their dividend declarations on the Dhaka Stock Exchange (DSE) yesterday.

Paramount Insurance's dividend payout was 10% cash in 2022 and Acme Pesticides' payout was 5% cash in FY22.

To approve the dividends and the audited accounts, Paramount Insurance will conduct the annual general meeting on 26 June and Acme Pesticides on 10 June.

Paramount Insurance has set the record date on 6 May and Acme Pesticides on 22 April.

According to the general insurer's statement, its earnings per share in 2023 stood at Tk1.73, indicating a 7% decline from the previous year.

The net assets value per share of the company stood at Tk26.56 and the net operating cash flow per share was Tk1.54 at the end of last year.

Despite declaring a double-digit dividend, its share price fell by 1.36% to settle at Tk50.90 each on the Dhaka bourse yesterday. Over the last one month, its share price has dropped by over 16%.

Acme Pesticides' earnings per share fell over 36%, settling at Tk0.96 compared to the previous fiscal year.

At the end of the last fiscal year, its net asset value per share was Tk18.35 and the net operating cash flow per share was Tk0.52.

As the company announced a lower dividend for FY23 compared to the previous fiscal year, its share price dropped by 6.72% to close at Tk22.20 each yesterday.

Over the last three months, its share price dropped over 37% on the Dhaka bourse.