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Dhaka Insurance profit dips 17% in 2022

Staff Correspondent
01 Jun 2023 00:00:00 | Update: 01 Jun 2023 00:52:05
Dhaka Insurance profit dips 17% in 2022

Dhaka Insurance Limited reported a 17 per cent drop in its net profit in the year ending in December 2022 over the previous year.

The listed insurer’s net profit dropped to Tk 12.03 crore last year from Tk 14.60 crore in the previous year, as per a disclosure filed with the Dhaka Stock Exchange (DSE) Wednesday.

Meanwhile, the company’s earnings per share (EPS) fell to Tk 3 for 2022 from Tk 3.64 for the previous year.

The board of directors of the non-life insurer recommended a 20 per cent cash dividend for its shareholders for the year ending in December 2022.

The company will hold its annual general meeting (AGM) on July 31 through a digital platform. It has fixed the record date for June 22 for the share splits.

The insurer had paid a 25 per cent cash dividend for 2021.

In 2022, the company’s net asset value per share was Tk 33.99 with revaluation, up from Tk 23.36 in 2021.

With an authorised capital of Tk 120 crore, the company has a paid-up capital base of Tk 40 crore.

Dhaka Insurance shares closed at Tk 64.30 per share on the DSE trading Wednesday.

According to the DSE data, sponsor-directors owned a 61.35 per cent stake in the company, while institutional investors held 9.56 per cent, foreign 0.10 per cent and the general public 28.99 per cent till April 2023.