Prabhu Insurance (PRIN) Wishes to Operate Mutual Fund Schemes; Company's AGM is on Jestha 06

Prabhu Insurance Limited (PRIN) has called its 25th AGM on 6th Jestha, 2078. The AGM will be held in the company's office in Tinkune, Kathmandu, starting at 11 am that day.

Among other agendas, the AGM will endorse the 10.53% dividend for the fiscal year 2076/77. The 387th meeting of the board of directors held on Magh 29 has decided to distribute 10% bonus shares and 0.53% cash dividend (for tax purposes) from the paid-up capital. The bonus shares are worth Rs. 10,56,27,484 and the cash dividend amounts to Rs. 55,59,341.

There is also a special agenda to add a new objective to operate mutual funds. As of now, only banks and their investment subsidiaries have been operating mutual funds in the country. The final verdict will come from the regulatory body SEBON on whether the insurance company will be allowed to operate a mutual fund scheme.

Baisakh 26 is declared the book closure date for the AGM. Thus, investors maintained before that day are entitled to the dividend payout and can also attend the AGM. Books will be closed from Baisakh 26 till the book closure date.

As of writing, PRIN has an LTP of Rs. 909. 

AGM notice