Provati Insurance declares 17% stock dividend

Provati Insurance Company Limited has recommended a 17 percent stock dividend for the year ended on December 31, 2020.

In a filing with Dhaka Stock Exchange on Thursday, the company reported earnings per share of Tk3.10, a 30 percent increase from Tk2.38 in the same period a year earlier.

Its net asset value per share was Tk21.11, up from Tk18.94 and net operating cash flow per share was Tk10.72, up from Tk5.48 during the same period.

The company also informed that, as per the Insurance Act 2010, every non-life insurance should have forty crores of paid-up capital.

It said the bonus share is not declared from the capital reserve or revaluation reserve or any kinds other than accumulated profit.

The annual general meeting of the company is scheduled to take place on May 30.

At present, the company’s paid-up capital is only Tk29.7 crore