Karachi, EFU Life Assurance Limited informed Pakistan Stock Exchange about the recommendations made by the board of directors in the meeting held at Karachi on February 22, 2022.
The agenda of the meeting was discussion of profit and loss account for year ended December 31, 2021 which portrayed a profit of Rs. 1,508,197 with earnings per share 15.08 basic and diluted respectively.
Further, 45% payment of cash dividend, bonus shares and right shares was agreed.
Furthermore, the share transfer books of the company will remain closed from March 25, 2022 to March 31, 2022 (both days inclusive).
EFU Life Assurance Limited is a Public Limited company incorporated in Pakistan on August 9, 1992. The company is engaged in life insurance business which includes ordinary life business, pension fund business and accident and health business. It is a subsidiary of EFU General Insurance Ltd.
The Government of Pakistan reopened the life insurance business to the private sector organizations and EFU Life Assurance Ltd started operations in November 1992.
The Shares which the company has introduced are 100,000,001. The Earnings per shares of the company has increased in 2020 and is 17.84 which was 15.49 in 2019. Their Profit after Taxation is 1,784,150,000 in 2020 which was 1,549,264,000 in 2019.