Karachi, Jubilee Life Insurance Company Limited informed Pakistan Stock Exchange about the recommendations made by the board of directors in the meeting held at Karachi on August 25, 2021.
The agenda of the meeting was discussion of profit and loss account for quarter ended June 30, 2021 which portrayed a profit of Rs. 571.89 with earnings per share 6.55 basic and diluted respectively.
Further, 30%payment of cash dividend, bonus shares and right shares was agreed.
Furthermore, the share transfer books of the company will remain closed from September 03, 2021 to September 09, 2021 (both days inclusive).
Jubilee Life Insurance Company Limited was incorporated in Pakistan on June 29, 1995 as a Public Limited Company. The Company started its business on June 20, 1996 and engaged in life insurance, carrying on non-participating business. In accordance with the requirements of the Insurance Ordinance, 2000, the Company has established a Shareholders’ fund and following statutory funds in respect of each class of its life insurance business. The company is a subsidiary of Aga Khan Fund for Economic Development, S.A, and Switzerland.
The total number of shares of the Company is 87,263,748. The Earnings per share of the Company is 33.05 in 2020 which was 25.49 in 2019. Their Profit after Taxation is 2,884,380,000 in 2020 which was 2,224,230,000 in 2019.