Meghna Life Insurance declares 30% dividend

Meghna Life Insurance Co Ltd has declared a 15% cash and 15% stock dividend for the year ended on December 31, 2020. 

The company, in a filing with Dhaka Stock Exchange on Thursday, said that the stock dividend is not declared from share premium or capital reserve or revaluation reserve or any unrealized gain. 

The stock dividend is not declared out of profit earned prior to incorporation of the company or through reducing paid-up capital or through doing anything so that the post-dividend retained earnings become negative or a debit balance. 

The filing further mentions that Meghna Life Insurance will use the amount of the declared stock dividend to invest in fixed deposit, bond and stock market to enhance the future return on investment and for business expansion. 

The annual general meeting of the company is scheduled to take place on October 27, 2021, via a digital platform.

During Thursday’s trade, its closing price was Tk117.9.