Life Insurance Corporation proposes 36% bonus shares; Paid up capital to reach Rs 1.81 arba

Thu, Aug 9, 2018 12:49 PM on Dividend, Bonus & Rights, Latest, Stock Market,
Life Insur...

Life Insurance Corporation (Nepal) (LICN) has announced 36% bonus shares for its shareholders from the profit of FY 2073/74

As per the decision made by the 94th Board meeting of the company, the insurance company will be distributing 36% bonus shares worth Rs 48.04 crore and 1.8947% cash dividend for tax purpose.

The current paid-up capital of the company stands at Rs 1.33 arba which will reach Rs 1.81 arba after the adjustment of bonus shares. To meet the mnimum capital requirement of Rs 2 arba, the company will need to hike its capital by Rs 19 crore.

The decision of 36% bonus share is subject to approval from the Beema Samiti and the upcoming 16th AGM of the company.