Phoenix Insurance declares 15% cash dividend

The board of directors of Phoenix Insurance Company Ltd recommended a 15 per cent cash dividend to its shareholders for the year ended on December 31, 2022. The decision came during a recently held board meeting of the insurer, according to a filing available on the DSE website.

The company will hold its annual general meeting (AGM) on May 31 where its shareholders are expected to approve the dividend declared.

The insurer has fixed April 17 as record date for the share splits.

The Company reported earnings per share (EPS) of Tk 2.02 for the year 2022, which was 2.20 for the previous year.

Meanwhile, its net asset value (NAV) per share stood at Tk 37.10 for the year ended on December 31, 2022 against Tk 39.90 for the year ended on December 31, 2021.

The insurer said its EPS decreased after dividend income and other earnings dropped last year than those in the previous year.

There will be no price limit for Phoenix Insurance shares today because of its corporate declaration.

The company’s shares closed at Tk 34 per share on the DSE trading floor on Tuesday.