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Pragati Life Insurance recommends 30pc dividend

FE Online Report | Published: June 23, 2019 12:36:19 | Updated: June 25, 2019 11:54:25


The board of directors of Pragati Life Insurance Company has recommended 15 per cent cash and 15 per cent stock dividend for the year ended on December 31, 2018, said an official disclosure on Sunday.

The final approval of the dividend will come during the annual general meeting (AGM) scheduled to be held on August 25 at 10:30am at the Krishibid Institution Bangladesh Complex in Dhaka.

The record date for entitlement of the dividend is July 17.

The company has also informed that it will raise paid-up capital and invest it as per Insurance Act- 2010.

In 2017, the company disbursed 15 per cent cash and 10 per cent stock 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 2006, closed at Tk 131.20 on Thursday last at the Dhaka Stock Exchange (DSE).

Its share traded between Tk 89 and Tk 149.50 each in the last one year.

The company’s paid-up capital is Tk 133.49 billion and authorised capital is Tk 250 million while the total number of securities is 13.49 million.

The sponsor-directors own 39.59 per cent stake in the company, while the institutional investors own 28.10 per cent and the general public 32.31 per cent as on May 31, 2019, the DSE data shows.

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