NLG Insurance announced 25% bonus shares; Paid up to reach Rs 64.06 crore

NLG Insurance Company Limited (NLG) has announced dividend to its shareholders. As per the notice published in NEPSE, the board meeting of the insurance company held on Poush 3, 2074 has announced to distribute 25% bonus shares and 1.315% cash dividend (for tax purpose) to its shareholders from the net profit it had earned in the FY 2073/74. The decision is subjected to the approval from the concerned authority and upcoming AGM. Its paid up capital will reach to Rs 64.06 crore from existing Rs 51.23 crore. To meet the capital requirement of Rs 1 arba as directed by the Insurance Board, it should further hike its capital by Rs 35.94 crore (around 56.10%). It had earned Rs 5.25 crore in the first quarter of the FY 2074/75. Its LTP stood at Rs 1,470 as of last trading day.