Dhaka, Bangladesh (BBN) – Prime Life Insurance company has okayed 25 percent cash dividend for the year ended on December 31 in 2016.

The final approval of the recommended dividend will come during the annual general meeting (AGM) scheduled to be held on October 19 at 10:00am in Dhaka, said an official disclosure on Tuesday.

The board of directors of the insurance company set the record date for entitlement of the dividend on August 30.

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

The company disbursed 20 percent cash and 5.0 percent stock dividend for the year ended on December 31, 2015.

Each share of the company, which was listed on the Dhaka bourse in 2007, closed at BDT 57.40 on Monday at DSE.

The company’s paid-up capital is BDT 305.20 million and authorised capital is BDT 500 million, while the total number of securities is 30.52 million.

Sponsor-directors own 34.72 percent stake in the company, while institutional investors own 41.95 percent, foreign investors 0.13 percent and the general public 23.20 percent as on June 30, 2017, the DSE data shows.