Nepal Life paid up capital to reach 173.3 crores; BoD proposes 68% dividend of FY 70/71

ShareSansar, April 6:

Nepal Life Insurance Company Limited (NLIC) is planning to distribute 60% bonus shares and a cash dividend of Rs 8 (for tax purpose) to its shareholders.

The 194th BoD meeting of the insurance company held on Chait 22, 2071, proposed the bonus shares which is subject to approval from the Beema Samiti and the company’s upcoming AGM.      

Although Nepal Life Insurance posted a net profit of Rs 10.03 crore, a slide from last fiscal’s Rs 13.86 crore, for the second quarter of the fiscal year 2071/72, it is still the top earner in the life insurance sector.
 
Life insurance fund of the Nepal Life has increased to Rs 20.36 arba, up from Rs 14.78 arba in the same quarter of the last fiscal year. Nepal Life increased its paid up to Rs 108.37 crore from Rs 63.75 crore reported in the last fiscal.

The company’s EPS stands at Rs 18.51, net worth at Rs 164.33 and price to earnings ratio stands at 245.16 times.