Popular Life Insurance to pay 38% cash dividend for 2022

Popular Life Insurance Company has declared a 38% cash dividend for 2022.

In 2021, the company paid a 40% cash dividend.

To secure shareholders' approval of the declared dividend, the company has scheduled an online annual general meeting (AGM) on 26 September. And, to identify the shareholders eligible for the dividend, the record date has been fixed on 4 September.

According to Popular Life's financials disclosed on the Dhaka Stock Exchange website on Sunday, its earnings per share (EPS) stood at Tk3.80, the same as it was in the previous year. Its profit stood at Tk22.96 crore.

In the first nine months of 2022, the company's life insurance fund stood at Tk1,516.09 crore — 6% lower compared to the same period of 2021.

The company's settlement of claims increased by 30% year-on-year to Tk576.77 crore in 2022.

Up to June this year, the company settled Tk241.82 crore claims by policyholders.

The balance of its life insurance fund stood at Tk1,586.52 crore as on 30 June 2023, which was Tk1,560.18 crore a year ago.

In the first quarter of 2023, its life insurance fund stood at Tk1,676.81 crore, around Tk56 crore lower than what it was in the same quarter of 2022.

According to the disclosure, the company's net asset value per share declined to Tk92.68, from Tk109.15 in 2021.

Popular Life Insurance was established in 2000 and has been publicly listed since 2005.