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The board of directors of Prime Islami Life Insurance Company has recommended 12 per cent cash dividend for the year ended on December 31, 2018, said an official disclosure on Sunday.
The board has also decided to reconstitute the board of the company.
The final approval of the dividend will come during the annual general meeting (AGM) scheduled to be held on September 26 at 11:00am in Dhaka.
The company will also hold an extraordinary general meeting (EGM) on September 26 in the same venue.
The record date for EGM & AGM is July 21.
In 2017, the company disbursed 15 per cent cash dividend.
There will be no price limit on the trading of the shares of the company on today (Sunday) following its corporate declaration.
Each share of the company, which was listed on the Dhaka bourse in 2007, closed at Tk 58.40 on Thursday last at the Dhaka Stock Exchange (DSE).
Its share traded between Tk 42.20 and Tk 76.80 each in the last one year.
The company’s paid-up capital is Tk 305.20 million and authorised capital is Tk 500 million while the total number of securities is 30.52 million.
The sponsor-directors own 35 per cent stake in the company, while the institutional investors own 46.09 per cent, foreign investors 0.19 per cent and the general public 18.72 per cent as on May 31, 2019, the DSE data shows.