Dhaka, Bangladesh (BBN) - Delta Life Insurance Company has recommended 20 percent cash dividend for the year ended on December 31 in 2016, said an official disclosure on Thursday.
The final approval of shareholders will come during the annual general meeting (AGM) scheduled to be held on June 11 at 10:30am at Delta Life Tower in Dhaka.
The record is on May 25.
There will be no price limit on the trading of the shares of the company today following its corporate declaration.
Each share of company, which was listed on the Dhaka bourse in 1995, closed at BDT 103.10 on Wednesday at DSE.
In 2015, the company disbursed 18 percent cash dividend.
The company’s paid-up capital is BDT 1.23 billion and authorised capital is BDT 5.0 billion, while the total number of securities is 123.75 million.
Sponsor-directors own 42.17 per cent stake in the company, while the institutional investors own 21.64 per cent and the general public 36.19 per cent as on March 31, 2017, the DSE data shows.
Delta Life Insurance Company established mainly through the initiative of a group of Bangladeshi professionals then working abroad along with a few enthusiastic local entrepreneurs, started its operation in December, 1986 after the Government of Bangladesh allowed the private sector to operate in the insurance sector in 1984 to carry on the business of insurance in the Private Sector.
Since inception, Delta Life set before itself a high standard of all round performance coextensive with professional soundness and proficiency.
It soon made a mark in the life insurance arena by not only being the leader among the private sector indigenous companies, but by undertaking and successfully implementing innovative and welfare oriented life insurance schemes.
It introduced an array of conventional life and group insurance products - many of which were the first in Bangladesh.
For the first time, health insurance products were also introduced by Delta Life.
But more importantly, in fulfillment of the avowed commitment towards social development, Delta Life for the first time not only in Bangladesh but probably in the World, devised and introduced micro-life insurance-cum-savings products specially suited to the needs and pockets of poor people of the country who constitute more than 80 percent of the people of Bangladesh.
Two projects of the company namely Grameen Bima for the rural people and Gono Bima for the poor and marginal savers of the urban areas were initiated to devote them slave exclusively to marketing and management of these innovative products.
Delta Life can take pride in moulding the saving habits of the lower and middle class people and transforming them into prospective policyholders.
The potential is now so strongly perceived that all life insurance companies - old and new alike - operating in the country have started their own micro insurance products.
BBN/SS/ANS