Beema Samiti approves FY 2071/72 balance sheet of LIC Nepal; AGM likely on Baishak; paid up to reach Rs 1.07 arba after 25% bonus shares

Beema Samiti (Insurance Board) has approved the FY 2071/72 balance sheet of  Life Insurance Corporation Nepal Limited (LICN). Binod Bhujel, Company Secretary of Life Insurance Corporation Nepal said, “the company will be holding its 14th Annual General Meeting (AGM) soon.” The 78th meeting of the company held on Poush 20, 2072 had proposed distribution of 25% stock dividend (Bonus, Shares) and 1.32% Cash Dividend (for Tax Purpose) to its Shareholders from the net profit earned in the FY 2071/72. The current Paid up capital of the company is Rs 85.55 crore where as after the distribution 25% bonus share the paid up capital will rise to 1.07 arba. Last year, LICN had distributed 30% bonus from the profit of the fiscal year 2070/71. LICN had a net profit of Rs. 3.26 crore in the second quarter of the ongoing fiscal year. Likewise company’s insurance fund has risen to Rs.23.32 arba.