Dhaka, Bangladesh (BBN)– The Board of Directors of Pragatai Life Insurance Company has recommended 8.0 percent cash dividend and 17 percent stock dividend for the year ended on December 31, 2016.
The final approval will come during the annual general meeting (AGM) scheduled to be held on September 28 at 10:30 am. The venue will be notified later, said an official disclosure on Sunday.
The record date is on July 27.
The company also published first quarter (Q1) financial report on the day. Increase in life revenue account for Jan-Mar, 2017 was BDT 108.58 million with total life insurance fund of BDT 4,869.71 million as against increase in life revenue account of BDT 92.98 million and BDT 4,353.12 million respectively for the same period of the previous year.
There will be no price limit on the trading of the shares of the Company today following its corporate declaration.
Each share of the company, which was listed on the Dhaka bourse in 2006, closed at BDT 114.40 on Thursday last at Dhaka Stock Exchange (DSE).
The company’s paid-up capital is BDT 103.72 million and authorised capital is BDT 250 million, while the total number of securities is 10.37 million.
The sponsor-directors own 40.24 percent stake in company, while institutional investors own 23.45 percent, foreign and the general public 36.31 percent as on May 31, 2017, the DSE data shows.