Green Delta Insurance to buy land at Tk75cr

In line with an expansion move, Green Delta Insurance Company Limited, the country’s one of the leading insurers, announced to purchase 12.89 decimals of land at a cost of Tk 75 crore.

The insurer will buy the land in the capital’s Gulshan-2 area to expand its commercial operation, subject to regulatory approvals, as per a filing posted on the Dhaka Stock Exchange (DSE) website.

Officials of the company believe once the project is implemented, it would put a significant impact on its financial progress.

In the year ended in December 2022, the insurer posted a net profit of Tk 73 crore, which was 13 per cent lower than the profit of Tk 84 crore in the previous year.

The company’s consolidated earnings per share (EPS) stood at Tk 7.30 for 2022, down from Tk 8.43 for the previous year.

Its consolidated net operating cash flow per share (NOCFPS) for the year ended in December 2022 stood at Tk 5.94 versus negative Tk 1.70 for the previous year.

The board of directors of Green Delta Insurance recommended a 25 per cent cash dividend for the year ended December 2022.

The insurer paid a 30 per cent cash dividend for 2021.