Desh General Insurance Company Limited (DGIC) has reported a significant 28% year-on-year decline in profits for the first quarter of 2023. This announcement had a negative impact on the market, causing an 8.53% decrease in the company’s share price on the Dhaka Stock Exchange. The decline in profit was attributed to poor declaration and overall financial performance. DGIC also declared a 5% cash dividend for its shareholders based on its financial standing in 2022. In the first quarter of 2023, the insurer’s earnings per share (EPS) dropped from Tk0.50 to Tk0.36 compared to the same period in 2022. As the company moves forward, it has scheduled its annual general meeting (AGM) for 28 August, with the record date for shareholders set for 3 July.
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