People’s Ins declares 10.50pc cash dividend at 443rd board meeting

Business Report :

People’s Insurance Company Limited has declared a 10.50 per cent cash dividend for its shareholders for the financial year 2024.

The announcement was made during the company’s 443rd Board of Directors meeting, held on Monday at its head office, chaired by Zafar Ahmed Patwary, chairman of the company.

Board members present included Amir Humayun Mahmud Chowdhury, Mohammad Ali Hossain, Farhad Ahmed Akand, Kabir Ahmed, Mohammad Mahbubur Rahman Patwary, Md. Azizul Haque, Dr. Jyotsna Ara Begum, Mohammad Mizan Victor Mohsin, Independent Director Parayan Chandra Dev Barman, Dilshad Ahmed, and M.M.G. Sarwar. The company’s adviser, Chief Executive Officer, Chief Financial Officer, Company Secretary, and Head of Internal Audit and Compliance also attended the meeting, according to a press release.

During the meeting, the audited financial statements for the fiscal year ending 31 December 2024, recommended by the Audit Committee, were approved.

The company posted a post-tax profit of Tk131.13 million, with earnings per share (EPS) of Tk2.84. In the previous fiscal year, post-tax profit stood at Tk118.95 million, with an EPS of Tk2.57.

Under the approved dividend plan, Tk48.51 million will be distributed among shareholders at Tk1.05 per share.

The remaining profits will be transferred to the company’s reserves and future investment funds in compliance with regulatory requirements.