Sunlife Insurance recommends 2.0pc stock dividend

FE Online Report | Published: August 01, 2018 11:35:00 | Updated: August 02, 2018 12:54:58

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The board of directors of Sunlife Insurance Company has recommended only 2.0 per cent stock dividend for the year ended on 31 December 2017.

The final approval will come during the annual general meeting (AGM) scheduled to be held on 19 September 2018 at 10:30am at Trust Milonayaton in Dhaka, said an official disclosure on Wednesday.

The record date for entitlement of the dividend is on August 28.

The company has also reported that decrease in consolidated life revenue account for Jan-June 2018 was Tk 45.35 million with consolidated total life insurance fund of Tk 2,990.61 million as against increase in Tk 40.18 million and Tk 3,222.45 million respectively for the same period of the previous year.

In 2016, the company also disbursed 6.0 per cent stock dividend.

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

Each share of the company, which was listed on the Dhaka bourse in 2013, closed at Tk 23.20 on Tuesday at the Dhaka Stock Exchange (DSE).

The company’s paid-up capital is Tk 351 million and authorised capital is Tk 500 million while the total number of securities is Tk 35.05 million.

The sponsor-directors own 41.99 per cent stake in the company, while the institutional investors own 26.44 per cent and the general public 31.57 per cent as on June 30, 2018, the DSE data shows.

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