Sonali Life declares 10% cash dividend
Recently listed Sonali Life Insurance Company declared a 10% cash dividend for its shareholders for the year 2020 at its board meeting on Saturday.
The company also recommended a 2% interim cash dividend within this period.
To secure approval for the declared dividend, an audited report and other matters, the company will hold an annual general meeting (AGM) on 24 August next.
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The record date for the AGM will be on 1 August.
On 30 June this year, the company made its debut on the stock exchanges.
The company's IPO shares were oversubscribed 36.45 times by general investors who submitted applications through the electronic subscription system (ESS).
On 9 December 2020, the regulator gave approval to the company for raising Tk19 crore from the stock market by issuing 1.9 crore shares through IPO.
The company will invest the fund in government securities, fixed deposit receipts (FDRs), and in the secondary market.
According to the company's audited financial report for the year that ended on 31 December 2020, its life insurance fund increased by Tk58.37 crore, reaching Tk153.71 crore. Its pre-IPO net asset value per share was Tk25.56 until 31 December 2020.
The authorised capital of Sonali Life Insurance Company Ltd, which was incorporated in Bangladesh on 7 July 2013, is Tk100 crore.
