LICN holding AGM today to endorse 30% bonus share
Mon, Mar 10, 2014 12:00 AM on Dividend, Bonus & Rights,
ShareSansar, March 10:
Life Insurance Corporation Nepal Limited is holding its Annual General Meeting today.
The 12th AGM of the leading insurer being held at the City Hall in Kathmandu will formally endorse 30 percent bonus share to its shareholders from the net profit it posed in the last fiscal year of 2069/70.
Amending its previous decision to give 20 percent bonus share in 64th BOD meeting, the insurance company in January had decided to increase its dividend by additional 10 percent.
The insurance company has said that the bonus shares will be issued on the basis of the paid-up capital after the distribution of rights shares is completed. The company has also informed that after the completion of right share process, its paid-up will shore to Rs 50.62 crore.
The insurance company had, however, posted first quarter net earnings of Rs 20.88 lakh, a huge slide from the corresponding quarter net earnings of 71.72 lakh.
