United Ajod Insurance Limited Proposes 4.5113% Dividend for Fiscal Year 2081/82; How Much in Bonus Shares and Cash?

United Ajod Insurance Limited (UAIL) has announced key decisions from the 82nd meeting of its Board of Directors held on Ashadh 4, 2083, at 4:00 PM, including the approval of financial statements for the last fiscal year and a proposed dividend distribution for shareholders.

According to the company, the board has approved the balance sheet and other financial statements for Fiscal Year 2081/82 in line with the provisions of the Nepal Insurance Authority directives under the Insurance Act 2079 and Insurers’ Financial Statement Directive 2080. These documents will now be submitted to the regulator for final approval.

In another major decision, the company stated that it has received permission from the Nepal Insurance Authority through a letter dated Ashadh 4, 2083, regarding the declaration of dividends for the fiscal year 2081/82. Following this approval, the board has recommended distributing dividends from the company’s distributable profits.

As per the proposal, based on the company’s current paid-up capital of Rs 2.31 billion, shareholders will receive 4.2857 percent bonus shares. In addition, the company has proposed a 0.2256 percent cash dividend to cover tax liabilities applicable to the bonus shares.

The proposal will first be sent to the Nepal Insurance Authority for regulatory approval. Once clearance is received, the dividend distribution plan will be presented for endorsement at the company’s upcoming Annual General Meeting (AGM).