Agrani Insurance, Prime Insurance declare dividends for 2024

The two publicly listed insurers — Agrani Insurance and Prime Insurance — have recommended dividends for their shareholders for the year ended on 31 December 2024. 

According to their separate disclosures published on the stock exchange's website today (28 April), Agrani Insurance Company recommended 6% cash and 6% stock dividends for 2024. 

The company said the stock dividend is subject to approval of the Bangladesh Securities and Exchange Commission (BSEC).  

In 2023, it paid a 12% cash dividend to its shareholders.

The insurer reported a 26.66% decline in its consolidated earnings per share (EPS) to Tk1.54, which was Tk2.10 in 2023. 

Its consolidated net asset value per share stood at Tk19.81, and consolidated net operating cash flow per share stood at Tk0.58 till 31 December 2024. 

Agrani Insurance said its EPS has dropped primarily due to a loss of Tk1.77 crore in the fair value of financial assets adjustment compared to the previous year.

Regarding the declaration of stock dividend, it cited an increase in paid-up capital as per the requirement of the regulatory bodies, the Insurance Development and Regulatory Authority (IDRA), as a reason.

It declared a stock dividend out of the accumulated profit or retained earnings. The company assures that such stock dividend will not be paid from any kind of capital reserve or revaluation reserve or any unrealised gain or any such event which reduces the paid-up capital.

The annual general meeting of the company has been scheduled for 19 June through the digital platform, and to identify its shareholders, the record date has been fixed for 20 May. 

Prime Insurance

Prime Insurance Company recommended a 10% cash dividend for its shareholders for 2024. 

The insurer reported an EPS of Tk2.05 for 2024, which is slightly down from Tk2.43 for 2023, according to its disclosure. 

Its net asset value per share stood at Tk21.79, and net operating cash flow per share was negative at Tk1.28, which was Tk20.93 and positive at Tk1.22, respectively, for 2023. 

The AGM of the company has been scheduled for 14 July through the digital platform, and the record date has been fixed for 15 June. 

The insurer reported an 18.66% decline in its EPS for the first quarter of 2025 compared to the previous year. 

In Q1 or the March quarter, its EPS stood at Tk0.61, which was Tk0.75 in the same time of 2024. 

Its cash flow per share became negative at Tk0.92 due to a decrease in gross premium income and an increase in claim payment, said the insurer.