Rupali Life Ins recommends 12pc dividend

FE Online Report | Published: September 04, 2018 12:40:58 | Updated: September 13, 2018 12:01:46

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The board of directors of Rupali Life Insurance Company has recommended 8.0 per cent cash and 4.0 per cent stock dividend for the year ended on December 31, 2017.

The final approval of the dividend will come during the Annual General Meeting (AGM) scheduled to be held on October 17 at 10:00am in Dhaka, said an official disclosure on Tuesday.

The record date for entitlement of dividend is on September 26, 2018.

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

Each share of the company, which was listed on the Dhaka bourse in 2009, closed at Tk 46.30 each on Monday.

The company also published second quarter earnings report on Tuesday. As per the report, increase in life revenue account for April-June, 2018 was Tk 1.04 million with total life insurance fund of Tk 4,278.38 million as against increase of Tk 69.88 million and Tk 4,102.72 million respectively for the same period of the previous year.

In 2016, the company disbursed 10 per cent cash dividend.

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 27.73 million.

The sponsor-directors own 31.68 per cent stake in the company while institutional investors own 26.11 per cent and the general public 43.21 per cent as on July 31, 2018, the DSE data shows.

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