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Meghna Life recommends 20pc cash dividend

FE Online Report | Published: July 23, 2019 11:35:58 | Updated: July 24, 2019 12:05:41


The board of directors of Meghna Life Insurance Company Limited has recommended 20 per cent cash dividend for the year ended on December 31, 2018.

The final approval of the dividend will come during the annual general meeting (AGM) scheduled to be held on September 26 in Dhaka, said an official disclosure on Tuesday.

The record date is September 01.

In 2017, the life insurer also disbursed 20 per cent cash dividend.

There will be no price limit on the trading of the shares of the company on today (Tuesday) following its corporate declaration.

Each share of the company, which was listed on the Dhaka bourse in 2005, closed at Tk 54.40 on Monday at the Dhaka Stock Exchange (DSE).

Its share traded between Tk 50 and Tk 94.6 each in the last one year.

The company’s paid-up capital is Tk 335.22 million and authorised capital is Tk 600 million while the total number of securities is 33.52 million.

The sponsor-directors own 18.07 per cent stake in the company, while the institutional investors own 34.96 per cent, and the general public 46.97 per cent as on June 30, 2019, the DSE data shows.

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