Padma Islami Life recommends no dividend
Stocks
Padma Islami Life Insurance did not recommend any dividend for its shareholders at the end of 2023.
The life insurer has also reported a decline in its net premium income in January to March quarter this year, according to the earnings disclosure.
At the end of March 2023, its life fund was Tk239.79 crore negative, which was Tk13.17 crore in the same period of the previous year.
During the period, its net premium income stood at Tk3.17 crore down from Tk7.86 crore a year ago.
Premium from clients is the key revenue income of life insurers, while the total of the collected premium that the companies invest in various sectors for a return helps them pay insurance claims or a bonus to clients after policy maturity.
Padma Islami Life Insurance was listed on the stock market in 2012.
Padma Life shares were stuck at a floor price of Tk41.20 each on the Dhaka Stock Exchange on Tuesday.
Comments
While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.