Life Insurance Corporation Nepal (LICN) Distributed 20% Bonus Shares to Demat Accounts

Fri, Apr 29, 2022 10:55 AM on Latest, Dividend, Bonus & Rights,

Life Insurance Corporation Nepal Limited (LICN) has distributed 20% bonus shares directly to the DEMAT accounts of its shareholders. The company has also urged its shareholders to dematerialize its shares.

The 19th AGM of the company endorsed a 21.052631569% dividend for the fiscal year 2076/77. The 114th meeting of the board of directors held on Poush 08 decided to distribute the dividend on the paid-up capital of Rs. 2,21,10,00,000. 20% bonus shares and 1.052631569% cash dividend (for tax) have been proposed. The bonus shares are worth Rs. 44.22 crore and the cash dividend is worth Rs. 3.32 crore. The cash dividend is proposed for tax on bonus shares. The same bonus shares are now deposited to Demat accounts. Magh 24 was the book closure date.

Thus, shareholders will have to dematerialize their shares at Nepal Merchant SBI Bank Limited, Hattisar, Kathmandu.