17th AGM of Life Insurance Corporation Nepal to be held on Shrawan 24, 2076; agenda to endorse 70% dividend for the shareholders

17th AGM o...

The BOD meeting of Life Insurance Corporation Nepal (LICN) has decided that the 17th AGM of the company will be held on 24th Shrawan, 2076 (9th August, 2019) at Nepal Police Club Hall, Bhrikutimandap from 9:30 AM onwards.

The agenda of the AGM is to endorse the audited financial highlights of FY 74/75 and appoint statutory auditor for FY 75/76. The company will be endorsing decision to distribute cash dividend worth Rs.53.12 Crore (35.54% of the paid up capital) to the shareholders out of the profits of FY 74/75.

The company will endorse distribution of 34.46% bonus shares worth Rs.51.51 Crore for the shareholders out of the profits of FY 74/75. The authorized, issued, paid up capital will be increased from current Rs.1.49 Arba to Rs.2.01 Arba.

For this purpose, the books of the company will remain closed from 9th Shrawan to 24th Shrawan, 2076. Investors holding shares of the company till 8th Shrawan, 2076 will be eligible to claim the dividend and participate in the AGM of the company.