Global Insurance recommends 10% cash dividend for 2024

Global Insurance Limited has proposed a 10% cash dividend for its shareholders for the year 2024, maintaining the same payout as the previous year, despite reporting a notable 14.49% increase in its earnings per share (EPS).

The insurer's consolidated EPS rose to Tk1.58 at the close of 2024, up from Tk1.38 in 2023, as disclosed in a stock exchange filing today.

Following the dividend announcement, Global Insurance shares saw a significant surge today, climbing by 5.62% to Tk28.20 each on the Dhaka Stock Exchange (DSE).

The insurer reported that its consolidated net asset value per share reached Tk14.54 for 2024, an increase from Tk13.96 in 2023. However, the consolidated net operating cash flow per share experienced a decline, standing at Tk0.26 in 2024 compared to Tk0.68 in the previous year.

Global Insurance has scheduled its annual general meeting (AGM) for 25 August. The meeting will be conducted via a hybrid system, allowing both online and physical attendance, to seek shareholder approval for the proposed dividend and the annual financial statements. The record date for identifying eligible shareholders has been set for 30 July.

Global Insurance, listed on the stock exchanges in 2005, is traded in the "A" category. As of April 2025, the company's shareholding structure comprised 35.32% held by sponsor-directors, 11.16% by institutional investors, and 53.52% by the general public.