Peoples Insurance Company announces 10.50% cash dividend
The 443rd Board Meeting of Peoples Insurance Company Limited was held today at the company's head office, chaired by Mr Jafar Ahmed Patwary.
Board members Mr Amir Humayun Mahmud Chowdhury, Mr Mohammad Ali Hossain, Mr Farhad Ahmed Akand, Mr Kabir Ahmed, Mr Mohammad Mahbubur Rahman Patwary, Mr Md Azizul Haque, Dr Jotsna Ara Begum, Mr Mohammad Mizan Victor Mohsin, Independent Director Mr Parayan Chandra Deb Barman, Mr Dilshad Ahmed, and Mr M.M.G Sarwar were present at the meeting, along with the company's Advisor, Chief Executive Officer, Chief Financial Officer, Company Secretary, and Head of Internal Audit and Compliance.
The meeting approved the audited financial statements for the year ended 31 December 2024, as recommended by the Audit Committee. At the end of the financial year, the company recorded a net profit after tax of BDT 131.13 million, with an earnings per share (EPS) of BDT 2.84. The previous year's net profit was BDT 118.95 million, with an EPS of BDT 2.57.
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The Board declared a 10.50% cash dividend for shareholders, amounting to a total distribution of BDT 48.51 million, equivalent to BDT 1.05 per share. The remaining profit will be transferred to the company's retained earnings and future reserves and invested by government regulations.
The company's net asset value (NAV) per share increased to BDT 34.81 at the end of 2024, compared to BDT 32.97 in the previous year. The net operating cash flow per share (NOCFPS) also improved to BDT 3.66, up from BDT 2.57 a year earlier.
Additionally, the Board scheduled the company's 40th Annual General Meeting (AGM) for 30 June 2025 via a digital platform and approved the Directors' Report 2024.
The meeting also reviewed and approved the unaudited financial statements for the first quarter of 2025 (January–March). During this period, the company recorded an EPS of BDT 0.63, compared to BDT 0.54 in the corresponding quarter of the previous year. The NAV per share rose to BDT 35.44 from BDT 33.51 over the same period. Furthermore, the NOCFPS stood at BDT 0.78 at the end of the first quarter, a significant improvement compared to a negative BDT 1.31 recorded in the corresponding quarter of the previous year.
