Two insurance companies declare dividends
Those companies also revealed their unaudited quarterly financial report for the current year
Two insurance companies have recommended dividends to their shareholders for the year ended on December 31, 2019.
One of those companies – Pragati Life Insurance Ltd – has recommended 20 percent cash dividend, while the other one – Islamic Insurance – has declared 5 percent cash and 5 percent stock dividends.
For final approval of the dividend, Pragati Life Insurance has fixed September 27 as the date for holding its annual general meeting. The company also set August 12 as its record date.
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The Islamic Insurance, a general insurance company, will hold its annual general meeting on October 10. Its record date has been set for August 13.
Those companies also revealed their unaudited quarterly financial report for the current year.
Pragati Life Insurance's financial statement reveals that the life insurance fund of the company increased by Tk6.72 crore to reach Tk579.28 crore for the April-June quarter of this year.
Meanwhile, the Islamic Insurance posted 7 percent growth in net profit and its earnings per share stood at Tk0.45 in the first quarter of this year.
Another insurance company – Continental Insurance – has also published its first half-yearly report of the current year.
The company posted a 55 percent decrease in net profit, and earnings per share of Tk0.62 for the second quarter this year.
An official of the Continental Insurance said its net profit decreased drastically due to the general holidays announced to curb the ongoing pandemic.
In the first six months of this year the company posted earnings per share of Tk1.09, which was 43 percent lower than in the same period of the previous year.
