AGM of NLIC endorse 70% bonus and 28.5% cash dividend

ShareSansar, May 19:

The 14th AGM of Nepal Life Insurance Company limited held on May 17 at Birgunj has endorsed 70 percent bonus share as well as 28.5 percent cash dividend to its shareholders.

After distributing of bonus share the paid up capital will rise to Rs 1 arba 8 crore 37 lakh 50 thousand from current paid up capital worth Rs 63.75 crore.

In the last fiscal year also the company had distributed handsome dividend to its share holders of 70 percent and 56.31 cash dividend.

In the current quarterly report of Nepal Life, one of the leading life insurers has reported a net profit of Rs 18.29 crore, up from Rs 13.49 crore in the corresponding quarter, which is 35.58 percent profit rise.

Its profit is attributed to its core business as its regular income has surged to Rs 5.05 arba, up from Rs 3.50 arba in the corresponding quarter.

It has also provisioned Rs 6.68 crore for the outstanding claim to be paid at the end of the year, and Rs 40.25 crore for the unexpired risk.

Its EPS now stands at Rs 38.27, the net worth per share at Rs 224.88, and the P/E ratio now stands at 135.18.

NLIC’s life insurance fund has now reached Rs 15.70 crore.