The synthesis, liquid crystalline properties and dielectric properties of a new bent-core compound (DBOB) composed of terephthalate based rod-like units with a O-dodecyl lactate group substituted at one side as well as n-octyloxy located at other terminal are presented. The liquid crystalline properties have been investigated by polarizing optical microscopy, differential scanning calorimetry and electro-optical studies. The dielectric parameters and phase regions of DBOB, which exhibits an enantiotropic non-polar SmA phase between 156 and 100 °C as well as SmA phase with a ferroelectric polar response at lower temperatures than 100 °C, have been carried out by impedance spectroscopy at different temperatures. The dielectric relaxation mechanisms have been analyzed by Cole-Cole plots. The Debye distribution parameters and activation energies have also been determined.