Alliance AGM today to endorse 13% bonus share, 55% right within Baisakh

ShareSansar, April 18:

Alliance Insurance Company Limited is holding its 18th Annual General Meeting today to endorse 13.16 percent  dividend (12.5 percent bonus shares and 0.66 percent more to adjust the taxes) to the shareholders from the net profit it posted in the last fiscal year 2069/70.

The AGM being held at the United World Trade Center at Tripureshwor is also electing three directors from the promoters,  three public directors while one is going to be appointed by the CIT.
 

It may be noted that the company is also soon distributing 55 percent right shares to meet the paid-up capital target of Rs 25 crore by the end of the current fiscal year, according to the company officials.

The company’s last AGM had endorsed the right shares.

It may be noted that Alliance had announce book closure for the bonus shares on April 3.

"We will also distribute the right shares within Baisakh (by mid-May) and announce a separate book closure for the same," Alliance's CEO Yogesh Bhakta Bahadur Shrestha told ShareSansar.

He further said that the right shares will be given as per Rs 16.23 crore paid-up capital of the company, and the paid-up will rise to Rs 27.18 after adjusting both bonus and right shares.

It may be noted that the insurer had posted a net profit of Rs.7.63 crore in the last fiscal year 2069/70.

The dividend being proposed by Alliance for the last fiscal year is higher than it has offered for the previous fiscal year, which stood at 10 percent bonus share.

Alliance’s EPS stands at an impressive Rs 47 and the net worth per share stands at Rs 210, according to its balance sheet of the last fiscal year.