Lumbini General Insurance proposes 12.82% bonus shares; paid up to reach Rs 88.30 crore

Lumbini General Insurance Company Limited (LGIL) has proposed dividend to its shareholders. As per the notice published in NEPSE today, the board meeting of the insurance company held on Mangsir 1, 2074 has proposed 12.82% bonus shares and 0.67% cash dividend (for tax purpose) from the net profit it had earned in the FY 2074/75. The decision is subjected to the approval from the concerned authority and upcoming AGM. Its current paid up capital stands at Rs 78.30 crore. It had floated 100% right shares to its shareholders. Thus after adjustment of bonus shares, its paid up capital will reach to Rs 88.30 crore. To meet the capital requirement of Rs 1 arba, it should further hike its capital by Rs 11.70 crore (around 13%). It had earned Rs 3.90 crore in the first quarter of the FY 2074/75. Its LTP stood at Rs 787 as of last trading day.