Home ›› Stocks

Rupali Life Insurance offers 11% cash dividend

Staff Correspondent
24 Jul 2023 20:18:52 | Update: 24 Jul 2023 23:29:37
Rupali Life Insurance offers 11% cash dividend

Rupali Life Insurance Company has recommended an 11 per cent cash dividend for its shareholders for year ended in December 2022.

The company will hold an annual general meeting (AGM) on September 26 to secure approval on the declared dividend, audited financial report, and other matters, as per a disclosure filed with the Dhaka bourse on Monday.

The record date has been fixed for 17 August to determine the shareholders’ eligibility for the declared dividend.

The company is involved in life insurance business mainly the individual life and Islami individual life insurance coverage. It operates non-traditional micro life insurance as well.

Accordingly, the company’s balance of life insurance fund as on June 30, 2023 was Tk 506.92 crore which was TK 530.33 crore till June 30, 2022, resulting in a net decrease of Tk 23.41 crore.

Listed on stock exchanges in 2009, the company has a paid-up capital of Tk 30.01 crore.

Sponsors and directors jointly hold 32.07 per cent of the company’s total shares, while institutes own 24.58 per cent, and general investors 43.35 per cent.

The company’s shares closed at Tk 139.20 each on the DSE on Monday.