Neco Insurance announces 15% stock dividend; 1:1 right share after bonus share

Neco Insurance Limited (NIL) has decided to distribute 15 percent bonus share and 0.7895 percent cash dividend for tax purpose. The BOD Meeting of the company held on Poush 28 has proposed 15 percent bonus share and 0.7895 percent cash dividend for tax purpose to its shareholders from the net profit it earned in the last fiscal year 2071/72. The same meeting has proposed distribution of 1:1 Right Share after distribution of bonus share to its shareholders. The decision is subjected to approval from Beema Samiti and the Bank’s upcoming Annual General Meeting (AGM). As per unaudited report NIL has earned net profit of Rs 98.46 lakh in the first quarter of the fiscal year 2072/73. It’s paid up capital remains at Rs 25 crore. After distributing 15 percent bonus share it’s paid up capital will reach to Rs.28.75 crore.