United Insurance declares 11% cash dividend

With 4.6 percent increase in earnings, the board of directors of United Insurance Ltd has recommended 11 percent cash dividend for the year ended on December 31, 2020. 

In a filing with Dhaka Stock Exchange on Thursday, the company reported earnings per share (EPS) of Tk2.04, net asset value (NAV) per share of Tk33.04 and net operating cash flow per share (NOCFPS) of Tk3.60 for the year ended on December 31, 2020, as against Tk1.95, Tk31.87 and Tk2.32 respectively for the same period of the previous year.

The company said that the EPS was higher in 2020 due to lower payment of claims, management expenses and unrealised gain in investment in shares. 

It also said that NOCFPS was higher in 2020 than the previous year due to lower payment of claims, reinsurance premium and management expenses and collection of outstanding premium. 

Meanwhile, the increase of NAV per share in 2020 was due to an increase in the value of the investment in shares. 

The annual general meeting of the company is scheduled to take place on April 28 via digital platform.