Business Desk :
Eastland Insurance Company Limited, a publicly-traded general insurance company, has declared cash dividends for the year 2021.
In a filing with the Dhaka Stock Exchange (DSE) on Sunday, Eastland Insurance Board of Directors has recommended a 10 per cent or Tk 1 per share cash dividend to its shareholders for the year, while the record date has been set as June 9.
These are the company’s highest cash dividend figures since 2016.
The earnings per share (EPS) of Eastland Insurance increased 38 per cent to Tk 1.51 in the year ended on December 31, 2021, which was Tk 1.09 in the previous year.
Its net operating cash flow per share (NOCFPS) also increased to Tk 0.87 in 2021, from positive Tk 0.83 in 2020.
The company’s Net Asset Value (NAV) per share increased to Tk 20.89 from Tk 20.70 in 2020.
Eastland Insurance had declared a 10 per cent dividend for the previous year, which was 7 per cent Cash and 3 per cent stock dividend.
Its share price dropped 6.35 per cent to Tk 29.50 on the DSE, in the first one hours into the trade on Sunday.
The price moved between Tk 30.20 and Tk 48.70 throughout last year.
