Last day to secure 10% bonus shares of Surya Life Insurance & Arun Valley Hydropower; 42% cash dividends of Nabil Balanced Fund 1

Today is the last day to secure 10% bonus shares of Surya Life Insurance Company Limited (SLICL), Arun Valley Hydropower Development Company Limited (AHPC) and 42% cash dividend of Nabil Balanced Fund 1 (NBF1). Surya life Insurance Company Limited (SLICL) will be convening its 9th Annual General Meeting (AGM) on Bhadra 27, 2074.  The AGM is going to be held at Udhyog Sangathan Morang meeting hall, Tinpaini, Biratnagar at 11 AM. The register of their shareholders will remain closed from Bhadra 9, 2074 till Bhadra 15, 2074 for the purpose of its AGM. Only the shares registered one day ahead of the book closure date, i.e. Bhadra 8 are eligible for the bonus shares. A separate book closure notice will be published for the right share. SLICL had earned Rs 9.69 crore profit in the fourth quarter of the last fiscal year 2073/74. Its paid up capital currently stand at 65.62 crore. After the issuance of the proposed 10% bonus share and 40% right share, its paid up capital will reach Rs 1.01 arba. As per Insurance Board’s directive for all life insurance companies to increase their paid up capital to a minimum of Rs 2 arba by the end of FY 2074/75, SLICL will need to issue a further capital hike of around Rs 99 crore (98%). Likewise, BOD meeting of the AHPC held on Shrawan 32, 2074 has also decided to propose 10% stock and 0.526% cash dividend (for tax pupose) to its shareholders. However, the decision is subjected to approval from concerned authority and its upcoming 20th Annual General Meeting (AGM). AGM will held on Bhadra 30, 2074 at Staff College, Jawalakhel, Lalitpur for the endorsement of bonus shares. The book closure date has been set on Bhadra 9 to Bhadra 15, 2074. But only those shareholders holding shares ahead of the book close date are eligible for proposed dividends and participation in AGM. AHPC is first company to call for AGM of FY 2073/74. The paid up capital of AHPC will become Rs 93.30 crore. Last year, AHPC had distributed 10 percent bonus shares to its shareholders from the net profit it earned in the FY 2072/73. AHPC has earned net profit of Rs 8.95 crore in the fourth quarter of the last fiscal year 2073/74 as per unaudited report. AHPC will be issuing 31.57 lakh unit shares as FPO at Rs 301 per share but this decision is subjected to approval from SEBON. AHPC has very good investment in many hydropower companies like RHPC, API, AKPL, etc. It has consistently providing good return to their shareholders, since its inception. Similarly, The BOD meeting of the fund manager- Nabil Investment Banking Limited held on Shrawan 32, 2074 has proposed 42 percent cash dividend to the units holders of Nabil Balanced Fund 1 (NBF1). The register of unit holders of Nabil Balance Fund -1 will closed on Bhadra 11, 2074 for the purpose of distributing 42% cash dividend to its unit holders. Thus those buying shares till Bhadra 8, 2074 are eligible for cash dividends. Nabil Balance Fund-1 has offered 100% cash dividend to its unit holders since the inception of this fund. The decision is subjected to approval from concerned authorities. NBF-1, a closed-ended 5 years mutual fund scheme managed by Nabil Investment Banking Limited has Net Asset Value (NAV) stand of Rs 23.95 by the end of Ashad, 2074. LTP of SLICL, AHPC and NBF1 stood at Rs 1168, Rs 260 and Rs 23.64 as of August 24, 2017.