Eastland Insurance declares 10% cash dividend for 2023
Corporates
Eastland Insurance Company Limited has declared 10% cash dividends only for the general shareholders, excluding its sponsor-directors, for 2023.
The decision came at its board of directors' meeting held on Thursday (7 March), according to its price sensitive information (PSI).
Earlier in 2022, it had also paid 10% cash dividends to its shareholders.
According to its financials for 2023, its net profit after tax declined around 30% to Tk9.59 crore, which was Tk13.68 crore in 2022.
Earnings per share (EPS) for 2023 stood at Tk1.14, down from Tk1.63 in 2022.
The net asset value (NAV) per share increased to Tk21.67 for 2023, which was Tk21.19 in 2022.
The insurer said its EPS dropped due to a decrease in net profit, and NAV rose due to rise in reserves for exceptional losses and also increase in market value of investment in securities.
The annual general meeting (AGM) will be held on 30 April through the hybrid system at RAOWA convention hall, and record date is 2 April.
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