12. 71% bonus share and cash dividend of Neco Insurance approved by Insurance Board

Sharesansar September 3:

The 268th BOD of Neco Insurance Limited (NIL) meeting held on Falun 7, 2071 had proposed 12.71 percent bonus share and a Cash Dividend worth NPR 16,72,478 from the net profit of fiscal year 2070/71 which has now been approved by Beema Samiti and is subject to the approval of the upcoming  company’ s AGM, going to be held on Ashwin 15,2072.

Neco Insurance Company Limited (NIL) has reported a massive profit growth of 230.16 percent in the fourth quarter of the last fiscal year 2071/72. Its net profit surged to Rs 12.11 crore in the fourth quarter as compared to Rs 3.66 crore in the corresponding quarter of the last fiscal year 2070/71.

Neco Insurance Limited’s last trading price stood at Rs 661 as of September 2, 2015.