Nepal Insurance 66th AGM today; to approve 9% stock dividend

Nepal Insurance Company Limited (NICL) is convening its 66th Annual General Meeting (AGM) today (Kartik 23, 2072). The AGM is going to be held at Russian Center of Science & Culture, Kamalpokhari, Kathmandu at 1:00 PM. Main agendas of the AGM are:

• To endorse 9 percent bonus share and 0.47 percent cash dividend (for tax purpose) from the net profit it earned from the fiscal year 2071/72. Current paid up capital of the insurance company stands at Rs 26.38 crore and after issuance of bonus share it’s paid up capital will rise to Rs 28.75 crore.
• To authorize BOD to amend any endorsement from AGM as directed by regulating bodies.

Other Agendas of the AGM include financial highlights of 2071/72 and appointment of auditor. Only those shareholders owing shares till Ashwin 24 will be entitled to the dividend of the company. The book closure date for the bonus share has been set on Ashwin 25. Nepal Insurance has reported a profit growth of Rs 6.23 crore in the fourth quarter of the last fiscal year 2071/72.