Nepal Reinsurance Company Limited (NRIC) Amends Dividend Proposal; What Has Changed?

Wed, Sep 8, 2021 11:30 AM on Dividend, Bonus & Rights, Latest,

Nepal Reinsurance Company Limited (NRIC) has made changes to its first-ever dividend proposal. 

The company had proposed a 20% dividend for the fiscal year 2076/77. This was the company's first dividend after being listed in NEPSE.  The meeting of the board of directors held on Ashad 07 had decided to distribute 16.5% bonus shares and 3.5% cash dividend for the fiscal year 2076/77. 

The proposal was then submitted to Beema Samiti. Based on Beema Samiti's amendment instructions, the cash dividend has been brought down to 2.5%. Meanwhile, the bonus share percentage hasn't changed.

The paid-up capital of the company is Rs. 10 Arba. As of writing, the company has an LTP of Rs. 1,469. Nepal Re-Insurance Company Limited posted a net profit of Rs 704.78 million in the fourth quarter of the fiscal year 2077/78.