The board of directors of Fareast Life Insurance Company has recommended 20 per cent cash dividend for the year ended on December 31, 2018, according to an official disclosure on Thursday.
The final approval of dividend will come during the annual general meeting (AGM) scheduled to be held on September 29 at 10:30am in Dhaka.
The record date is September 05.
The life insurer, which was listed on the DSE in 2005, disbursed 25 per cent cash dividend in 2017.
There will be no price limit on the trading of the shares of the company today (Thursday) following its corporate declaration.
The company’s share close at Tk 61.30 each on Wednesday at the Dhaka Stock Exchange.
The company’s paid-up capital is Tk 747.43 million, authorised capital is Tk 1.0 billion and the total number of securities is 74.74 million.
The sponsor-directors own 32.88 per cent stake in the company, while institutional investors own 38.86 per cent, foreign investors 3.59 per cent and the general public 24.67 per cent as of June 30, 2019.