Dhaka, Bangladesh (BBN)- The board of directors of Fareast Life Insurance Company has recommended 39 percent cash dividend for the year ended on December 31, 2015, said an official disclosure on Wednesday.
The final approval will come during the annual general meeting (AGM) scheduled to be held on August 23 at 10am at the International Convention City Bashundhara at Kuril Bishwa Road.
The record date is on August 7.
There will be no price limit on the trading of the shares of the Company today following its corporate declaration.
The company’s share price closed at BDT 67 on Tuesday. The company was listed on the Dhaka bourse in 2005.
The company’s paid-up capital is BDT 622.86 million and authorised capital is BDT 1,000 million, while the total number of securities is 62,285,626. The company’s total market cap stood at BDT 4,173.14 million as on Tuesday.
The sponsor-directors own 36.01 percent stake in the Fareast Life, while institutional investors own 33.74 percent, foreign 2.17 percent and the general public own 28.02 percent as on May 31, 2016, the DSE data showed.
BBN/SSR/AD