NLICL AGM on Baisakh 29; BoD offers 30% stock, 8% cash dividend

ShareSansar, April 19:

National Life Insurance Company Limited (NLICL) will be holding its 27th AGM on Baishak 29 at its central office in Lazimpat, Kathmandu at 10:30 am.

The BoD meeting of the National Life Insurance Company Limited (NLICL) has proposed 30% stock dividend (bonus shares) and 8% cash dividend to their shareholders. The proposed divided is subject to approval by the upcoming AGM.

After the issuance of 30% stock dividend, the paid up capital of NLICL will rise to Rs 101.91 crore from existing Rs 78.39 crore.

For the fiscal year 2071, the company has reported a slight growth in net income from premium. Its premium income rose to Rs 2.39 arba from Rs 2.01 arba reported last year.

Meanwhile, for the fiscal year 2071, National Life Insurance reported 42.95% fall in profit. NLICL’s profit fell from Rs 442.75 million in fiscal year 2070 to Rs 252.51 million this fiscal.