LIC Nepal 14th AGM today; to approve 25% dividend

Life Insurance Corporation Nepal (LICN) is convening its 14th Annual General Meeting (AGM) today (Jestha 11, 2073). The AGM is being held at Nepal Academy Hall, Kamaladi Kathmandu at 8:30 AM. Main Agendas of the AGM are:

• To endorse 25 percent bonus shares and 1.32 percent cash dividend for tax purpose from the net profit it earned from the fiscal year 2071/72.
• To increase Authorized, Issued and paid up capital from Rs 85.55 crore to Rs 1.06 arba and amend article of association accordingly.
• To approve the expenses of FY 2071/72 under ‘donation amount’.

Other agendas of the AGM include endorsement of financial highlights of 2070/71, appointment of auditor, to elect 1 BOD members from public shareholder group Only those shareholders owning shares till Baisakh 29 are entitled to the dividend of the company. The register of their shareholders was closed from Baisakh 30, 2073 till today for the purpose of its upcoming AGM. LICN has earned net profit of Rs 24.90 crore in the third quarter of the fiscal year 2072/73.