It is a broadly described annual report of Nitol Insurance Company Limited in the year of 2012. During the year 2012, the Company earned a premium of Taka. 294,617,735 in compared to Taka. 348,127,065 of 2011. The Underwriting Profit of the company stood at Tk. 53,609,376 for the year 2012. In 20l1 Underwriting Profit was Tk. 43,682,665. Company’s Profit before Tax is fixed at Tk. 72,671,727 in 2012 as against Tk. 55,852,237 in 2011. In the year 2012 Company’s Net Profit after Tax stood at Tk. 56,061,339 which calculates earnings per share Tk. 2.75 (@Tk.10 per share) as compared to Tk. 2.00 (@Tk. 10 per share) on Tk. 37,777,295 in the previous year 2011.
The Board of Directors of the company after making necessary reserves and provisions as mentioned in the Appropriation of Profit proposes and recommends for the declaration of @10% Cash Dividend & @60% Stock Dividend for all shareholders for the year 2012. These financial statements are presented in Bangladesh Taka (Taka/Tk/BDT) which is the company’s functional currency. All financial information presented in Taka has been rounded off to the nearest Taka.
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