Dhaka, Bangladesh (BBN)-The Federal Insurance has recommended 5.0 per cent stock dividend for general shareholders only, said an official disclosure on Thursday.
The board of directors of Federal Insurance proposed the dividend for the year ended on December 31, 2015.
The board has also decided to increase the authorized capital of the company from BDT 600 million to BDT 1.0 billion by amending the memorandum of associations and the articles of association.
The final approval will come during the annual general meeting scheduled to be held on July 21 at, time of EGM and AGM is 11:30amd and 12noon respectively at IDEB Bhaban in Dhaka.
The record date is on June 2.
The company has also reported earnings per share (EPS) of BDT 0.31, net asset value (NAV) per share of BDT 11.27 and net operating cash flow per share (NOCFPS) of BDT (3.73) for the year ended on December 31, 2015.
There will be no price limit on the trading of the shares of the Company today following its corporate declaration.