Pragati Life Insurance recommends 25pc dividend

FE Online Report | Published: July 29, 2018 11:32:23 | Updated: July 30, 2018 14:58:33

Photo collected from internet has been used for representational purpose only

The board of directors of Pragati Life Insurance Limited has recommended 15 per cent cash and 10 per cent stock dividend for the year ended on 31 December 2017.

The final approval of the dividend will come during the annual general meeting scheduled to be held on 27 September 2018 at 11:00am at BIAM auditorium in the capital, said an official disclosure on Sunday.

The record date for entitlement of the dividend is on August 27.

In 2016, the company disbursed 8.0 per cent cash and 17 per cent stock dividend.

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

Each share of the company, which was listed on the Dhaka bourse in 2006, closed at Tk 101.20 on Thursday last at the Dhaka Stock Exchange (DSE).

The company’s paid-up capital is Tk 121.36 million and authorised capital is Tk 250 million while the total number of securities is 12.31 million.

The sponsor-directors own 39.59 per cent stake in the company, while the institutional investors own 25.77 per cent and the general public 34.64 per cent as on June 30, 2018, the DSE data shows.

Share if you like