Janashakthi tops insurance sector in dividend returns to shareholders
View(s):Janashakthi Insurance PLC said this week that it is offering the highest dividend yield among other local insurance.
For the year ended March 31, 2013, the company paid out an annual dividend yield of 9.52 per cent, the highest among insurers, the company announced.
“We always look to maximise returns to our shareholders, who have placed their faith in our company, At the price point, our stock is quite affordable for even small to midsize investors looking to add value to their equity investment portfolios,” Prakash Schaffter, Managing Director of Janashakthi Insurance, was quoted as saying.
The company’s share price currently trades at around Rs. 12 as against insurance peers whose counters are priced several times higher. “Strangely while Janashakthi has stayed below the radar as a hot stock pick it has consistently topped the category in dividend returns in recent years,” the statement said.Janashakthi Insurance crossed the Rs 8 billion mark to Rs. 8.26 billion in total net income last year (2012).
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