Prabhu Insurance proposes 19.20% bonus shares; Paid up to reach Rs 68.84 crore

Prabhu Insurance Company Limited (PRIN) has proposed dividends to its shareholders. As per the notice published in NEPSE today, the insurance company proposes 19.20% bonus share worth Rs 11.08 crore and cash dividends worth Rs 58.36 lakh (for tax purpose)from the profit it had earned in the FY 2073/74. The decision is subjected to the approval from concerned authority and upcoming AGM. Its paid up capital stands at Rs 57.75 crore. After distribution of bonus shares, it will reach to Rs 68.84 crore. To meet the capital requirement of Rs 1 arba till Ashad 2075 as directed by the Insurance Board, it should further hike its capital by Rs 31.16 crore (around 45.26%). Also from the profit of FY 2072/73, it had distributed 17% bonus shares to its shareholders. It had issued 50% right shares to its shareholders in the FY 2073/74. It had earned Rs 17.38 crore in the fourth quarter in the FY 2073/74. Its LTP stands at Rs 1137 as of last trading day.