Delta Life Insurance Company has declared a 30% cash dividend for its shareholders for the financial year that ended on 31 December 2022.
The Board of Directors also recommended a 30% cash dividend for the year ending December 2021. The dividend was recommended at a meeting of the company's board of directors held on 11 June.
After the company's dividend announcement on the Dhaka Stock Exchange website on Tuesday (12 June), its stock price fell by 3.68% and stood at Tk75.80 per share at the end of the trading session.
To approve the dividend and audited financial statements, the company will conduct an annual general meeting on 31 July. The record date is 8 July.
According to the financial statements in September 2022, the balance of the life insurance fund stood at Tk3,990.86 crore, which was 3% higher than Tk3,874.52 crore in the same period of the previous year.
Its net premium stood at Tk175.14 crore at the end of the September quarter, which was Tk166.56 crore a year ago. Its total expenses were Tk228.94 crore, which was Tk249.38 crore from July to September 2021.
As of 31 May 2024, sponsors and directors jointly held 41%, institutions 20.39%, and the general public 28.61% shares of the company.
Delta Life faced a decline in its annual premium income due to the pandemic in 2020 and bounced back in 2021, according to its unaudited figures reported to the Idra.
Source: The Business Standard