Due to the Merger Process With Jyoti Life, Surya Life Insurance Will Not Distribute Dividends of FY 77/78

Tue, Sep 27, 2022 11:35 AM on Merger/Acquistion, Latest,

At 3:30 PM on Ashwin 9, Surya Life Insurance Company Limited (SLICL) Board of Directors had its 325th meeting.

In the wake of the meeting, Surya Life Insurance Company Limited (SLICL) though has a distributable profit and is in a suitable position to distribute dividends of FY 2077/78, the company has chosen to transfer the profit to the reserve fund instead of distributing dividends to the shareholders due to the ongoing merger process with Jyoti Life Insurance.

Previously, SLICL and JLI signed a preliminary Memorandum of Understanding (MOU) addressing the merger, and the procedure is moving forward in accordance with the company's financial results.

The last trading price of SLICL and JLI is Rs.387 and Rs.351, respectively.