Provati Insurance Company Limited, a non-life insurance company, has posted a 30% increase in its profit for the year that ended on 31 December 2020 as compared to the previous year.
The company disclosed the price sensitive information after its board meeting held on 24 March.
It recommended a 17% stock dividend for its shareholders for the year 2020. In the previous year, it paid a 12% cash dividend.
The net profit of Provati Insurance stood at Tk9.20 crore in 2020, while its earnings per share (EPS) was Tk3.10. Its net asset value (NAV) per share stood at Tk21.11.
In 2019, the insurer's net profit was Tk7.06 crore, EPS Tk2.38 and NAV per share Tk18.94.
Provati Insurance started its operation in 1996 and was listed on the stock exchanges in 2009.
The company said its annual general meeting (AGM) will be held on 30 May and the record date will be 19 April.
The venue of the AGM will be fixed as per instruction from the securities regulator.
As of February 2021, out of the company's total 29,702,505 shares, sponsors and directors held 30.03%, institutional investors 13.58% and general shareholders 56.39%.