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Sonali Life gives dividend worth Tk 2cr among new shareholders

Published : Tuesday, 17 May, 2022 at 12:00 AM  Count : 108
Business Correspondent

Sonali Life Insurance Company has distributed an additional dividend worth around Tk 2 crore among its new shareholders. Under insurance company law, companies have to pay dividends among shareholders calculated on the record date.
At the same time since many new investors have invested in the company soon after Initial Public Offering (IPO) by buying shares, SLI has distributed dividend worth Tk 1 crore 90 lakh again among its 1, 53,000 shareholders.
The Board of directors of the company decided to pay the additional dividend to keep the interest of  investors as per the instruction of the regulatory authority, Bangladesh Securities and Exchange Commission (BSEC).
Earlier, the company declared 10 per cent cash dividend for all investor shareholders for the year ended on December 31st, 2020. Accordingly, it distributed the dividend worth Tk 2 crore and 85 lakh among all its shareholders in June 2021 on the record date.
Besides, the SLI Board had also recommended a 2.0 per cent interim cash dividend for all shareholders as on the record date set on August 4 based on commendable performance of the company for the FY 2021.
While talking to the daily Observer, Chief Executive Officer (CEO) of the company Mir Rashed Bin Aman said their company always keeps the interest of the investors.
When questions came about payment of the dividend among the newly added general shareholders, the SLI board decided to pay the dividend to them. "And at the same time the BSEC also guided us to pay the dividend. That's why finally we did it", Rashed added.   
Sonali Life is the first company whose shares were allotted under the newly introduced pro-rata basis. The company raised Tk 190 million from the capital market by issuing 19 million ordinary shares under the fixed price method.
The company's paid-up capital is Tk 475 million, authorised capital is Tk 1.0 billion and the total number of securities is 47.50 million. The sponsor directors own 54.58 per cent stake in the company while the institutional investors own 4.37 percent and the general public 41.05 percent.

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