Reliance Ins declares 33.33pc stock, 10pc cash dividends
Reliance Insurance Limited yesterday approved 33.33 percent stock (one bonus against three shares) and 10 percent cash dividends for the year 2004 at the company's 17th annual general meeting (AGM) at Sonargaon Hotel in Dhaka.Latifur Rahman, vice chairman of the Board of Directors of the company, presided over the AGM, says a press release. The AGM also elected two new directors from public shareholders -- Atiqur Rahman and Imran F Rahman. During the year 2004, Reliance Insurance achieved a gross premium income of Tk 492.3 million representing a growth of 9.7 percent. The company registered good underwriting performance and its pre-tax profit increased to Tk 42.64 million as against Tk 32. 24 million in the preceding year. Following the AGM, a meeting of the Board of Directors took place in which Latifur Rahman and Rokia A Rahman were elected chairman and vice chairman respectively. The Board of Directors of the insurance company is now comprised of Latifur Rahman, chairman, Rokia A Rahman, vice chairman, M Shamsul Alam, A Rouf Chowdhury, Anwarul Huq, Asadul Huq, Habibullah Khan, Shahnaz Rahman, Shamsur Rahman, Rajiv Prasad Saha, Amanullah Chowdhury, Iftikhar Arshad Husain, Atiqur Rahman, Imran F Rahman, Romana Rouf Rumee, directors, and Akhtar Ahmed, managing director and chief executive officer. The AGM was attended by a large number of shareholders who took interest in the proceedings of the meeting. The shareholders expressed their appreciation of the prudent and judicious measures taken by the management in professionally managing the affairs of the company. They also put forward a number of suggestions, which were duly noted by the management.
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Latifur Rahman (4-L), vice chairman of the Board of Directors of Reliance Insurance Ltd, presides over the company's 17th annual general meeting (AGM) in Dhaka yesterday. Other members of the Board are also seen.PHOTO: RELIANCE INSURANCE |
