Green Delta Ins AGM approves 15pc cash, 35pc stock dividends
FE Report | Friday, 27 June 2008
Green Delta Insurance Company Ltd declared 15 per cent cash and 35 per cent stock dividend for the year 2007 at the 22nd annual general meeting of the company held at a city hotel Thursday.
Green Delta Chairman Kabir H Choudhury presided over the meeting.
Managing Director-cum-CEO Nasir A Choudhury, in his address of welcome, highlighted the company's operational performance in 2007 and outlined the future plans and programmes undertaken by the company to boost up operational efficiency and profitability.
The AGM witnessed a lively discussion on company's operational performance. The company earned gross premium of Tk 1,109.25 million while its assets and reserve increased to Tk 1,698.44 and Tk 767.76 million respectively in 2007.
Investment income accelerated to Tk 186.41 million and underwriting profit to Tk 42.39 million and earning per share stood at Tk 107.93.
The chairman appreciated the shareholders for their continuous support and cooperation to the growth of the company. He assured the shareholders of materialising their constructive suggestions for raising earning, capacity and goodwill of the company.
The Credit Rating Agency of Bangladesh (CRAB) upgraded the credit rating of the company at 'AA2' in the long term and 'ST-2' in the short term on the basis of the financial statement of 2006 and other relevant information.
Earlier, an amendment to the number of the board of directors was approved at the 6th extra ordinary general meeting. Accordingly, there shall be 5 instead of 3 directors and highest 20 instead of 31 directors.
These 20 directors are - Sponsor shareholders 12, public shareholders 6 and independent shareholders 2.
Green Delta Chairman Kabir H Choudhury presided over the meeting.
Managing Director-cum-CEO Nasir A Choudhury, in his address of welcome, highlighted the company's operational performance in 2007 and outlined the future plans and programmes undertaken by the company to boost up operational efficiency and profitability.
The AGM witnessed a lively discussion on company's operational performance. The company earned gross premium of Tk 1,109.25 million while its assets and reserve increased to Tk 1,698.44 and Tk 767.76 million respectively in 2007.
Investment income accelerated to Tk 186.41 million and underwriting profit to Tk 42.39 million and earning per share stood at Tk 107.93.
The chairman appreciated the shareholders for their continuous support and cooperation to the growth of the company. He assured the shareholders of materialising their constructive suggestions for raising earning, capacity and goodwill of the company.
The Credit Rating Agency of Bangladesh (CRAB) upgraded the credit rating of the company at 'AA2' in the long term and 'ST-2' in the short term on the basis of the financial statement of 2006 and other relevant information.
Earlier, an amendment to the number of the board of directors was approved at the 6th extra ordinary general meeting. Accordingly, there shall be 5 instead of 3 directors and highest 20 instead of 31 directors.
These 20 directors are - Sponsor shareholders 12, public shareholders 6 and independent shareholders 2.