Rupali Life Insurance recommends 12pc cash dividend

The board of directors of Rupali Life insurance has recommended 12 per cent cash dividend for the year ended on December 31, 2018, according to an official disclosure on Wednesday.

The final approval of dividend will come at the annual general meeting (AGM) scheduled to be held on September 26 at 11:30am in Dhaka.

The record date is August 29.

The company, which was listed on the DSE in 2009, disbursed 8.0 per cent cash and 4.0 per cent stock dividend in 2017.

The company’s share closed at Tk 46.10 each on Tuesday at the Dhaka Stock Exchange.

The company’s paid-up capital is Tk 288.49 million, authorised capital is Tk 1.0 billion and the total number of securities is 28.84 million.

The sponsor-directors own 31.68 per cent stake in the company, while institutional investors own 10.35 per cent, foreign investors 4.0 per cent and the general public 53.97 per cent as of June 30, 2019.