Popular Life recommends 40pc cash dividend

FT ONLINE

The board of directors of Popular Life Insurance Company Limited has recommended 40 per cent cash dividend for the year ended on December 31, 2017, said an official disclosure on Thursday.

The annual general meeting (AGM) will be held on August 27 at 12 noon at FARS Hotel & Resorts in Dhaka.

The record date is on July 24.

The company has also reported earnings per share (EPS) of Tk 4.27, net asset value (NAV) per share of Tk 80.52 and net operating cash flow per share (NOCFPS) of minus Tk 51.17 for the year ended on December 31, 2017 as against Tk 4.02, Tk 70.06 and minus Tk 81.04 respectively for the same period of the previous year.

There will be no price limit on the trading of the shares of the company today following its corporate declaration.

The company also disclosed first quarter (Q1) earnings on Thursday.

As per Q1 financial report, decrease in life revenue account for Jan- March, 2018 was Tk 1,331.29 million with total life insurance fund of Tk 21,535.45 million as against decrease in life revenue account of Tk 1,019.32 million with total life insurance fund of Tk 24,033.72 million respectively for the same period of the previous year.

Each share of the power generation company closed at Tk 105.80 on Wednesday at the Dhaka bourse.

Popular Life Insurance, which was listed on the Dhaka bourse in 2005, disbursed 40 per cent cash for the year ended on December 31, 2016.

The company’s paid-up capital is 604.28 million, authorised capital is Tk 5.0 billion and the total number of securities is 64.42 million.

Sponsor-directors own 30.85 per cent stake in the company while institutional investors 14.60 per cent, foreigners 0.21 per cent and the general public 54.34 per cent as on May 31, 2018.