Central Insurance yet to file dividend compliance report: DSE
Central Insurance Company – a first generation general insurer – did not submit its dividend distribution compliance report to the Dhaka Stock Exchange (DSE).
In a disclosure on its website, the country's premier bourse on Wednesday issued a query letter to the company in this regard.
Md Jafar Ali, company secretary of the insurer, however, claimed that it has disbursed the dividend and also submitted a dividend compliance report to the DSE.
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"There was a little misunderstanding with the DSE. We have talked to the DSE about this," he added.
The insurer has approved a 15% cash dividend for the shareholders for 2022 in its annual general meeting (AGM) on 28 May.
According to the listing regulations of the DSE, listed companies have 30 days to disburse dividends after their approval at AGMs.
Then after disbursement, the companies should have sent a dividend compliance report to the DSE.
So, the company was supposed to disburse the approved dividend by 28 June and submit a compliance report by the first week of July.
In the first quarter this year, the company reported a 25% decline to Tk0.51 in its earnings per share (EPS) compared to the same period a year ago.
The insurer got listed on the stock exchanges in 1995.
In 2022, the company made a profit of Tk10.79 crore, which was Tk12.78 crore in 2021.
On Wednesday, its shares traded at Tk39 each, a 4% increase from the previous trading session.
Out of its 53,144,823 shares, sponsor-directors held 38.73%, the government 1.32%, institutional investors 15.90%, and general shareholders 44.05%.
