Pragati Insurance declares 20% cash, 7% stock dividends
Pragati Insurance Ltd declared 20% Cash & 7% Stock dividend for the year 2023 in its 38th Annual General Meeting held today (26 June) through digital platform.
The meeting was presided over by Syed M Altaf Hussain, chairman of the company.
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The company's Vice Chairman Tabith Awal and members of the Board of Directors Abdul Awal Mintoo, Mohammed Abdul Awwal, Mohammed Abdul Malek, Nasir Latif, Syed Muhammad Jan, Tajwar M Awal, Nigar Jahan Chowdhury, N Yeahea , ASM Mohiuddin Monem; Independent Directors Muhammad Jamaluddin, H Naher, Mahbub Anam & Advisor Md Rezaul Karim, CEO Syed Sehab Ullah Al-Manjur(ACII), CFO Amar Krishna Shil, Company Secretary Syed Anisul Hoque and a large number of shareholders participated in the AGM through digital platform.
The meeting approved the agenda of the AGM through the e-voting of the shareholders.
During the year 2023, the company earned Gross premium of Tk2341.53 million.
Profit before tax was Tk497.94 million. Net claim settled in 2023 was Tk378.53 million against Tk261.69 million in 2022.
Underwriting profit stood at Tk341.05 million in 2023.The total asset of the company is valued at Tk6,340.9 million in 2023.
Pragati Insurance Chairman Syed M Altaf Hussain said the company has declared total dividend 27% for the shareholders.
"It is a great success and this success which has come in to being due to the contribution of our valued clients, right direction of the Board of Directors, hardworking of the management and the all officers and employees of the company. I and the Board of Directors also remember their contribution with due respect," he said.
The company secretary and CFO of the company replied the various questions given by the shareholders.
A large number of shareholders participated in the meeting through digital platform and expressed their full satisfaction with the performance of the company. The meeting was conducted by Company Secretary, Syed Anisul Hoque.
The meeting re-elected 3 directors from sponsor shareholders namely – Abdul Awal Mintoo, Mohammed Abdul Malek and Nigar Jahan Chowdhury.
The meeting also elected 2 directors from public shareholders they are - Tajwar Muhammad Awal and Syed Muhammed Jan.
