Trust Islami Life to distribute entire 2024 profit as dividend
Trust Islami Life Insurance, a publicly listed insurer, will distribute its entire profit of Tk80 lakh for 2024 as dividend among its general shareholders.
The sponsor-directors, who hold a substantial 53.38% stake in the insurance company, will not take any dividend for the year, according to a disclosure published on the stock exchange's website on Monday.
The disclosure says Trust Islami's board has recommended a 5% cash dividend to all the general shareholders other than sponsors and directors. In 2023, it paid a 5% cash dividend with a 2% interim cash dividend.
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As per data, of total 4 crore shares, sponsors and directors of the company hold 2.40 crore shares, and general shareholders 1.6 crore shares.
Trust Islami Life reported an earnings per share (EPS) of Tk0.20 for 2024, which was Tk0.21 at the end of 2023.
Its net asset value per share stood at Tk12.13, and net operating cash flow per share at Tk1.61, which was Tk11.37 and Tk2.07 respectively for the year ended in December 2023.
The annual general meeting of the company is scheduled for 30 September, while the record date is 4 September. The venue of the AGM is to be notified later, says the disclosure.
Trust Islami Life Insurance was listed on the stock exchanges in 2023. It raised Tk16 crore from the stock market by issuing 1.6 crore shares through an Initial Public Offering (IPO).
The issue price of its shares was Tk10 each.
Its share price closed at Tk56.20 each at the Dhaka Stock Exchange.
