Dhaka, Bangladesh (BBN)- The Board of Directors of Prime Islami Life Insurance has recommended 20 percent cash dividend and 5.0 percent stock dividend for the year ended on December 31, 2015, officials said.
The dividend recommendation came at a meeting of the board of directors of the company held in Dhaka on Monday
The final approval will come during the annual general meeting (AGM) scheduled to be held on 15 September.
The record date is on August 8.
The insurer disbursed 15 percent cash and 10 percent stock dividend for the year ended on December 31, 2014.
There will be no price limit on the trading of the shares of the Company on Tuesday following its corporate declaration.
The company’s share hovered between BDT 57.10 and BDT 59.90 on Monday, before closing at BDT 57.40, advancing 1.22 percent over the previous session.
Prime Islami Life Insurance was listed on the Dhaka bourse in 2007. The life insurer belongs to the “A” category.
The sponsor-directors own 38.73 percent stake in the Prime Islami Life Insurance, while the institutional investors own 30.57 percent, foreign investors 0.16 percent and the general public own 30.54 percent as on April 30, 2016, according to DSE website information.
The company’s paid-up capital is BDT 290.67 million and authorized capital is BDT 500 million, while the total number of securities is 29,066,886. The total market cap of the company stood at BDT 1,671.35 million as on Monday.
BBN/SSR/AD