Neco Insurance endorses 12% bonus dividend worth Rs 14.11 crore from the profit of FY 2074/75; Cash dividend worth Rs 74.29 lakh also endorsed for tax purposes
Wed, Jul 3, 2019 12:58 PM on Dividend, Bonus & Rights, Latest, Stock Market,
In an official notice published today, Neco Insurance Company (NIL) has informed that based on the 370th Board meeting held on Ashad 17, 2076, the company has endorsed 12% bonus dividend for its shareholders from the profit of FY 2074/75.
The company has endorsed bonus worth Rs 14 crore 11 lakh 53 thousand 408, which is 12% of the current paid-up capital. Similarly, it has also endorsed 0.63% cash dividend for tax purposes worth Rs 74 lakh 29 thousand 127.
The current paid-up capital of NIL stands at Rs 1.17 arba. After the adjustment of bonus shares, the capital will reach Rs 1.31 arba.
The endorsement is subject to approval from the company's Annual General Meeting and Beema Samiti, the regulatory body. As per law, the company should conduct AGM within 6 months of the completion of fiscal year but despite the fact that 11 months have already passed the company hasn't declared AGM yet.
