Nepal life became first insurance company to announce AGM for FY 2074/75; to endorse 25% bonus and 23.50% cash dividend
Fri, Apr 26, 2019 6:42 AM on AGM/Special AGM, Dividend, Bonus & Rights, Stock Market, Latest,
Nepal Life Insurance Company Limited (NLIC) will be convening 19th Annual General Meeting (AGM) on Jestha 4, 2076. The AGM is going to be held at Hotel Diyalo Lords Plaza, Birgunj at 9.30 AM.
The main agendas of the AGM are:
- To increase authorized capital to Rs 10 arba.
- To endorse 25% bonus share and 23.50% cash dividend (including tax for proposed bonus share and cash dividend) to its shareholders for the FY 2074/75.
- To amend the Memorandum of Association (MOA) and Articles of Association (AOA) as per requirements.
- Other agendas of the AGM are major financial highlights of the FY 2073/74 and appointment of auditor for the FY 2074/75.
The book closure date has been set on Baisakh 19, 2076. Thus only those shareholders owning their share till Baisakh 17, 2076 (Baisakh 18 being holiday) i.e. one trading day ahead of the book closure date are eligible to participate in the AGM.
The insurance company has reported a net profit of Rs 28 crore in the second quarter of the current fiscal year. The current paid-up capital of NLIC is Rs 4.40 arba and after the bonus adjustment, the new paid up capital will be Rs 5.5 arba.
