NLG Insurance Company Limited to Distribute 7% Bonus Shares for FY 2075/76

NLG Insurance Company Limited has issued a notice stating its proposed dividend payment for the fiscal year 2075/76.

The company has informed NEPSE of two financial reports prepared: one following the directive by Beema Samiti for non-life insurance companies and the other by Nepal Financial Reporting Standard (NFRS).

The report prepared following the standards of Beema Samiti has shown a net profit of Rs. 20,24,16,195 for the fiscal year 2075/76. Meanwhile, the report prepared according to the standards of Nepal Financial Reporting Standard (NFRS) has shown Rs. 20,24,36,453 as the net profit for the same fiscal year.

The total accumulated profit of the fiscal year 2075/76 amounts to Rs. 7,83,44,286 after the deduction of all regulatory reserve.

Following the approval by Beema Samiti, NLG Insurance Company is going to distribute Rs. 7,17,25,500 worth of bonus shares to its investors. This is 7% of the company's existing paid-up capital.

Furthermore, Rs. 37,75,026 will be incorporated from the cash dividend to make up for the 0.37% tax while issuing bonus shares.