Pragati Insurance Limited has declared a 30 per cent cash and a 20 per cent stock dividend for its snare holders for the year 1996. says a press release.

The dividend was announced at the 11 th annual general meeting (AGM) of the Company held at a city hotel on Wednesday.

The Chairman of the company. Abdul Monem, presided over the meeting.

A large number of shareholders including directors at-tended the meeting.

During the year, the company earned a gross premium of Taka 22.77 crore, an increase of 8.30 per cent over the previous year and settled net Claim of Taka 3.54 crore.

Company's Income from investment and other sources was Taka 6.29 crore.

Underwriting income was taka 3.51 crore. Net profit before tax was taka 8.30 crore which was 86.32 per cent higher than previous year.

Company's total assets and reserve as on 31st December, 1996 stood at Taka 68.02 crore and 28.41 crore respectively. .

The shareholders expressed their satisfaction at the performance of the Company and adopted Directors' Report and the Audited Accounts of the Company for 1996.

The meeting also elected 10 directors from B-Grotm shareholders. They are: AJM Enamul Islam, M Abul Hashem. Syed Shamsul Alam, Mahbub Anam. Dr Abdul Kalam, Monlr Ahammed, Md Moazzem Hossain, ASM Mohiuddin Monem, AKM Sanaullah (Bappi) and Farzana Ahmed.

The meeting also adopted a resolution favouring splittln'g of present market lot of company shares from fifty to ten subject to the approval of the Securities and Exchange Commission and consent of the Dhaka Stock Exchange and Chittagong Stock Exchange.