Reliance Insurance recommends 25% cash dividend
The final approval will come during the AGM to be held on 30 March
Reliance Insurance Limited has recommended a 25% cash dividend for its shareholders for the financial year that ended on 31 December 2021.
The recommendation came at a meeting of the company's board of directors held on Sunday evening.
But the dividend will be finally approved during the company's annual general meeting (AGM) that will be held on 30 March via a digital platform. The record date of the AGM is 7 March.
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According to the company's financial statements for the year 2021, its earnings per share (EPS) stood at Tk5.59, which was 7% higher compared to the previous year.
Its net asset value per share was Tk64.39 and net operating cash flow per share was Tk7.96.
On Sunday, the company's share price fell 0.93% to Tk95.8 per share at the Dhaka Stock Exchange. But in April-June last year, its share price jumped by 182%.
A majority of the company's directors are from its owners - Transcom Group, and Rangs Group.
Currently, sponsors and directors hold 64.24% shares of Reliance Insurance, whereas general shareholders have 34.05%.
