Asian Life Insurance announces 20% bonus and 50% right share; paid up capital to reach Rs 1.20 arba

Asian Life Insurance Co. Ltd. (ALICL) has proposed 20% bonus share and 1.05% cash dividend (for tax purpose) for the FY 2071/72. It has also proposed a further 50% right share. As per the notice published in NEPSE today, the 108^th BOD meeting of the life insurance company held yesterday has proposed stock dividend of 20% and cash dividend of 1.05% to their shareholders, which is subject to the approval of Beema Samite and the company’s upcoming AGM. The same BOD meeting has also proposed right share issuance in the ratio 2:1. The right share will be issued after bonus share distribution. ALICL has earned Rs 2.08 crore in the second quarter of the fiscal year 2073/74. Its paid up capital remains at Rs 67.13 crore. After the issuance of 20% bonus and 50% right, its paid up capital will reach Rs 1.20 arba. The proposed bonus and right will be endorsed by the AGM for FY 2071/72 since it has not conducted AGM for the said fiscal year. This way, its AGM for FY 2072/73 will remain pending.