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The board of directors of Rupali Life Insurance Company Limited has recommended 10 per cent cash dividend for the year ended on December 31, 2016, said an official disclosure on Thursday.
The final approval will come during the Annual General Meeting (AGM) scheduled to be held on September 28 at 10:00am at Institute of Diploma Engineers Bangladesh in Dhaka.
The record date for entitlement of dividend is on August 24.
In 2015, the life insurer also disbursed 10 per cent cash divined.
There will be no price limit on the trading of the shares of the company today (Thursday) following its corporate declaration.
Each share of the company, which was listed on the Dhaka bourse in 2009, closed at Tk 39.50 on Wednesday at Dhaka Stock Exchange (DSE).
The company’s paid-up capital is Tk 277.39 million and authorised capital is Tk 1.0 billion, while the total number of securities is 27.74 million.
Sponsor-directors own 31.68 per cent stake in company, while institutional investors own 30.59 per cent and general public 37.73 per cent as on June 30, 2017, the DSE data shows.