Home ›› 10 Apr 2023 ›› Stock
Pragati Insurance announced a 30 per cent dividend for its shareholders for the year 2022 although the company witnessed a 1.23 per cent year-on-year decrease in its net profit to Tk 37.06 crore in last year.
The dividend will be paid out in two parts, with 25 per cent in cash and 5 per cent in stock. This was a decrease from the 35 per cent cash dividend paid out in 2021.
The insurer’s earnings per share (EPS), which were Tk 5.65 in 2022 compared to Tk 5.72 in 2021, remained almost steady despite a slight decline in net profit from Tk 37.52 crore to Tk 37.06 crore.
Additionally, its net asset value (NAV) per share increased from Tk 57.32 in 2021 to Tk 59.01 in 2022, while the net operating cash flow per share (NOCFPS) decreased from Tk 12.09 in 2021 to Tk 6.84 in 2022.
The company provides insurance coverage for various products, including fire, marine cargo, personal accidents, overseas medical claims, and motor vehicles. The company’s annual general meeting (AGM) is set to be held on June 8 via a digital platform. Shareholders as on the record date of May 10 will be eligible to participate in the meeting.
Pragati Insurance stocks closed at Tk 60.30 per share on Sunday, a slight 0.66 per cent decrease from that of previous trading day.
