Sikder Insurance declares 5% cash dividend
Sikder Insurance Company, a concern of the Sikder Group, has recommended a 5% cash dividend for its general shareholders for 2024, according to a disclosure published on the Dhaka Stock Exchange (DSE) on Wednesday (14 May).
The declared dividend is not applicable to shareholders who held shares of the company before an initial public offering (IPO).
Sikder Insurance had paid a 3% cash dividend to its shareholders for 2023.
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According to its financials, its earnings per share (EPS) increased by 56% in 2024 to Tk1.28, compared to Tk0.82 in 2023.
The insurer has scheduled its annual general meeting (AGM) on 21 August through the digital platform, and to identify its shareholders, the record date has been fixed for 26 June.
In 2024, its net asset value per share declined to Tk12.28, and net operating cash flow per share increased to Tk1.26, which was Tk18.76 and Tk0.22, respectively, in 2023, its disclosure reads.
In September 2023, the Bangladesh Securities and Exchange Commission (BSEC) allowed Sikder Insurance to raise Tk16 crore from the stock market through an IPO to expand its business.
The company issued 1.6 crore ordinary shares at a face value of Tk10 each.
Started its operations in July 2013, it underwrites major insurance businesses such as fire, accidental damage on property, marine cargo, marine hull, liability insurance, aviation, motor, engineering, and miscellaneous.
