Gurans Life Insurance announces AGM; Amends dividend to account for the doubling of paid-up capital

Gurans Life Insurance Company Limited (GLICL) has announced its 5th AGM on Mangsir 04, i.e. November 19. It will be held in the company's central office in Raj Bhawan, Tinkune, Kathmandu. The AGM will commence at 10:30 am.

Among other agendas, the AGM will elect 5 board members representing the promoters and a board member representing the public shareholders.

Furthermore, it should be noted that Gurans Life Insurance Company Limited had previously proposed a 10.5% bonus shares as a dividend for the fiscal year 2074/75. However, the company did not organize its AGM and issued 100% right shares to its shareholders instead. The paid-up capital increased to double its value from 93.85 crores to 1.87 Arba.

Hence, to keep the same amount of the dividend as bonus shares, the company has amended its dividend to 5.25%. The upcoming AGM will endorse this dividend. Note that this is half the dividend amount of the previously proposed 10.5%. This is done to compensate for the doubling of the paid-up capital. Needless to say, investors will get the same monetary amount of bonus shares.

Additionally, the company will also distribute the necessary amount of cash dividend for tax purposes. The book closure date is announced on Kartik 20. Investors maintained till that date are eligible to attend the AGM and are entitled to the dividend payout. 

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