National Life Insurance declares 38% cash dividends for 2023

The life insurer had announced the same dividends a year earlier

National Life Insurance has announced a 38% cash dividend to its shareholders for the calendar year 2023. 

At a meeting on 23 May, its board of directors made a recommendation for the dividends.

But it will require shareholders’ approval at the next annual general meeting (AGM), slated to be held on 30 June.

The life insurer had announced the same dividends a year earlier.

On Thursday, National Life Insurance’s shares price fell by 2.93% or Tk3.4 to Tk112.6 each on the Dhaka Stock Exchange (DSE).

The record date has been fixed for 12 June, according to the price sensitive information (PSI) published on its website.

In 1995, the company got listed on the DSE. Now, its shares are being traded under the A category on the country’s two bourses.

The paid-up capital of National Life Insurance is Tk108.52 crore, which is split into 10.85 crore general shares.

The company’s market capitalization is Tk1,258 crore.

As of April 2023, sponsor-directors held 55.88% of the company’s total shares, institutional investors owned 19.52% stake, foreign investors had 0.18% and general shareholders held 29.30%, according to the DSE.

Source: The Business Standard

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