Nepal Life price rises by 19.63% after dividend declaration on April 3; today is last day to clinch 48.5% dividend

Today is the last trading day to clinch 48.5% dividend of Nepal Life Insurance Company Limited (NLIC). The company is convening 19th Annual General Meeting (AGM) on Jestha 4, 2076.

The book closure date has been set on Baisakh 19, 2076. Thus only those shareholders owning their share today 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 AGM is going to be held at Hotel Diyalo Lords Plaza, Birgunj at 9.30 AM. The major 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 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.

Price rises by 19.63 percent after declaration of Dividend

Nepal Life Insurance Company Limited price on NEPSE increased by 19.63 percent after the declaration of dividend on April 3, 2019. The current price (Rs 1316) of NLIC is near the 52 week price. The total 3,22,012 units of NLIC were traded after declaration of dividend with 3,305 transactions.