Nepal Life Insurance to float 30.96 lakh unit FPO shares; declares 25% bonus shares
Wed, Mar 30, 2016 10:47 AM on Latest, Dividend, Bonus & Rights, Featured,
The 217th Board meeting of Nepal Life Insurance Company Limited (NLIC) held on Chaitra 16, 2072 has declared 25% bonus share and 1.3158 % cash dividend (For tax purpose) from the net profit earned in the FY 2071/072.
The company has also decided to go for FPO to maintain the promoter public capital structure as 70:30.
At present the Promoter: Public ratio of NLIC stands at 80:20 . The FPO will be issued to convert the promoter:public shareholder structure to 70:30. To make the structure in the ratio 70:30, 30.96 lakhs unit shares needs to be floated to the general public.
Both the declaration is subject to approval from the forthcoming AGM and approval from the concerned authorities.
Earlier in the fiscal year 2070/71, Nepal Life Insurance had distributed 60 percent bonus share and 8 percent cash dividend to their shareholders.
NLIC has earned a net profit of Rs.14.39 crore in the second quarter of current fiscal year.
The last traded price (LTP) of NLIC stands at Rs. 3870 as on March 29, 2016.
At present the Promoter: Public ratio of NLIC stands at 80:20 . The FPO will be issued to convert the promoter:public shareholder structure to 70:30. To make the structure in the ratio 70:30, 30.96 lakhs unit shares needs to be floated to the general public.
Both the declaration is subject to approval from the forthcoming AGM and approval from the concerned authorities.
Earlier in the fiscal year 2070/71, Nepal Life Insurance had distributed 60 percent bonus share and 8 percent cash dividend to their shareholders.
NLIC has earned a net profit of Rs.14.39 crore in the second quarter of current fiscal year.
The last traded price (LTP) of NLIC stands at Rs. 3870 as on March 29, 2016.
