Himalayan General Insurance announces 20 % stock dividend; Paid up to reach Rs 38.52 crore

Himalayan General Insurance Company Limited (HGI) has decided to distribute 20 percent stock dividend to its shareholders. As per the notice published in Nepal Stock Exchange (NEPSE) today, the company’s  201^st BOD meeting held on Mangsir 19, 2073 has proposed 20 percent bonus share and 1.05 percent cash dividend (for tax purpose) to its shareholders from the net profit it earned in FY 2072/73. The decision is subjected to approval from Insurance Board and the insurance company’s upcoming Annual General Meeting (AGM). Himalayan General Insurance SGM had endorsed 1:2.2 (220%) right share to its existing shareholders. Earlier, HGI had distributed 20 percent bonus share to its shareholders from the profit it made in the fiscal year 2071/72. Himalayan General Insurance has earned net profit of Rs 1.97 crore in the first quarter of the fiscal year 2073/74 as per unaudited report. It’s paid up capital remains at Rs 32.10 crore. After the issuance of 20 percent bonus share the paid up capital will rise to Rs 38.52 crore.