Neco BoD proposes 12.71 bonus shares, 0.67% cash dividend

ShareSansar, February 22:

Neco Insurance has proposed 12.71% stock dividend (bonus share) and 0.67% cash dividend for their shareholders.

As per the information posted on NEPSE website, the dividend was approved by the 268th BoD Meeting of the company held on Falgun 7. The proposed dividends are subject to approval from Beema Samiti and the insurance company’s AGM.

In the second quarter of the fiscal year 2071/72, Neco Insurance had posted a net profit of Rs 21.04 million, slightly more than 100% rise from the corresponding quarter last year.

The insurance has Rs 7.87 crore in its reserve. The insurance company’s annualized EPS stands at Rs 32 and its net worth per share at Rs 272.