Meghna Life Insurance recommends 20pc cash dividend

FE Online Report | Published: July 30, 2018 14:58:33 | Updated: July 31, 2018 12:10:08


The board of directors of Meghna Life Insurance Company Limited has recommended 20 per cent cash dividend for the year ended on 31 December 2017.

The final approval of dividend will come during the annual general meeting (AGM) scheduled to be held on 27, September 2018 at 10:30 am at Institution of Diploma Engineers Bangladesh in Dhaka.

The record date for entitlement of the dividend is on August 19, said an official disclosure on Monday.

In 2016, the company disbursed 20 per cent cash and 5.0 per cent stock dividend.

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

Each share of the company, which was listed on the Dhaka bourse in 2005, closed at Tk 53 on Sunday at the Dhaka Stock Exchange (DSE).

The paid-up capital of the company 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 18.43 per cent stake in the insurance company, while the institutional investors own 37.49 per cent and the general public 44.08 per cent as on June 30, 2018.

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