Prabhu Life Insurance Revises Dividend Rate to 10.31% for Fiscal Year 2077/78

Prabhu Life Insurance Limited (PLI) has revised its dividend proposal for FY 2077/78.

Earlier, the company had proposed a 10.526% dividend for the fiscal year 2077/78. As per the notice published in NEPSE, the insurance company had proposed 10% bonus shares and 0.526% cash dividend from the paid-up capital of Rs. 2 Arba.

However, the decision taken by the 140th BOD meeting of the company was subject to approval from Nepal Insurance Authority. The Insurance Authority has now ordered the company to revise its dividend proposal. Thus, the company revised its proposal to only distribute 9.8% bonus shares worth Rs. 19.60 crores and 0.5158% cash dividend worth Rs. 1.03 crores on the paid-up capital of Rs. 2 Arba.

As of writing, the company's last-day close stands at Rs. 401.10.