Alliance Insurance to offer 12.5% bonus share, besides 55% rights shares in the pipeline

ShareSansar, March 13:

Alliance Insurance Company Limited is going to offer 12.5 percent bonus shares to the shareholders from the net profit it posted in the last fiscal year, according to a highly place source.

“The Board of Director will meet soon to propose 12.5 percent bonus share for the last fiscal,” the source ShareSansar today.

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.

It may be further 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.

Company’s last AGM had endorsed a proposal to this effect.

“We have already made an arrangement with our issue manager (NMB Capital) to publish the offer letter for the right shares within a day or two,” Alliance’s company secretary Yogesh Bhakta Bahadur Shrestha said today.

He further informed that the company will hold its AGM within Chaitra (by mid April).

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.