NLIC pledges mindboggling 98.5% dividend, including 70% bonus share

ShareSansar, April 10:

Nepal Life Insurance Company Limited has pledged a mouthwatering 70 percent bonus share and 28.5 percent cash dividend to the shareholders from the net profit it posted in the last fiscal year 2069/70, plus the additional gain from the previous fiscal year.

With this NLIC has become one of the companies to offer the highest dividend among all the companies listed at Nepal Stock Exchange Limited for the second consecutive year.

However, the pledged dividend is subject to the approval of the Insurance Board and the upcoming Annual General Meeting of NLIC.

A meeting of the leading insurer’s Board of Directors on Tuesday had decided to offer the dividend, according to company officials.

Once the dividend is endorsed and distributed, NLIC’s paid-up capital will rise to over Rs 1 arba from the existing Rs 63.75 crore, the officials added.

In the current fiscal year, too, NLIC has been posting a very impressive profit as it collected Rs 3.46 arba, including Rs 1.5 arba in the first insurance fee, by April 6.

Its life insurance fund has surged to Rs 15.85 arba by now.

NLIC officials have claimed that the company has doubled its market share over the past three years.