NLICL's AGM today to approve 55% bonus share, 17.5% cash

ShareSansar, June 13:

National Life Insurance Company Limited (NLICL) is holding its Annual General Meeting today to formally endorse 72.5 percent dividend – 55 percent bonus share and 17.5 cash – to the shareholders from the net profit it posted in the last fiscal year 2069/70.

This comes at a time when other leading life insurers have been proposing handsome dividend to their shareholders, and there are rumors in the market that the Insurance Board is planning to ask these companies to raise their paid-up to Rs 2 arba shortly.

After distribution of the dividend, NLICL’s paid-up capital will shore up to Rs 77.5 crore, up from the current Rs 50 crore.

The 26th AGM of NLICL being held at its newly constructed building at Lazimpat will also endorse a special proposal to raise its authorized capital to Rs 2 arba.

Once NLICL’s Board of Directors decided to pledge 72.5 percent dividend back in April,  the company’s shares has witnessed a high turnover at the stock exchange.