National Life Insurance offers 55% bonus share, 17.5% cash

ShareSansar, April 10:

National Life Insurance Company Limited (NLICL) has offered 72.5 percent dividend – 55 percent bonus share and 17.5 cash – to the shareholders from the net profit it posted in the last fiscal year 2069/70.

This comes at a time when other leading life insurers have been proposing handsome dividend to their shareholders, and there are rumors in the market that the Insurance Board is planning to ask these companies to raise their paid-up to Rs 2 arba shortly.

If this dividend is approved by the Insurance Board as well as the upcoming Annual General Meeting of NLICL, the company’s paid-up capital will shore up to Rs 77.5 crore, up from the current Rs 50 crore.

After the news that NLICL’s Board of Directors was meeting later in the evening to pledge a very good dividend, the company’s shares witnessed the highest turnover at the stock exchange yesterday, and also were the traded at a circuit level of 10 percent to close at Rs 2,600.