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Karachi, United Insurance Company of Pakistan Limited informed Pakistan Stock Exchange about the recommendations made by the board of directors in the meeting held at Lahore on March 21, 2023.
The agenda of the meeting was discussion of profit and loss account for Year ended December 31, 2022 which portrayed a profit of Rs. 921,718,636 with earnings per share 3.12 basic and diluted respectively.
Further, 10% payment of cash dividend, bonus shares and right shares was agreed.
Furthermore, the share transfer books of the company will remain closed from April 21, 2022 to April 29, 2022 (both days inclusive).
“The United Insurance Company of Pakistan Limited was incorporated on October 20, 1959, in Pakistan as a Public Limited Company. The principal activity of the Company is General Insurance Business and it qualifies as a domestic insurance company under the Insurance Ordinance, 2000 and undertakes Fire & Property Damage, Marine Aviation & Transport, Motor, Crop and Miscellaneous General Insurance.
The Company has been allowed to carry on Window Takaful Operation on August 18, 2014 by the Securities and Exchange Commission of Pakistan (SECP) under the Takaful Rules, 2012. The Company has not transacted any insurance business outside Pakistan.
The total number of shares are 295,000,044. The Earning per share is 1.41 in 2020 which was 1.54 in 2019. The Profit after tax is 414,555,000 in 2020 which was 401,591,000 in 2019.