Prime Life Insurance announces 25% bonus share; Paid up capital to reach Rs 61.01 crore

Prime Life Insurance Company Limited (PLIC) has decided to issue 25% bonus share to its shareholders. As per the notice published in NEPSE, the BOD meeting of the company held on Shrawan 12, 2074 has proposed 25% bonus share and cash dividend necessary for tax purpose to its shareholders. The decision is subjected to approval from Insurance Board and the company’s upcoming Annual General Meeting (AGM). Earlier, PLIC had distributed 13 % bonus share to its shareholders in the FY 2068/69. The company has not been able to hold their AGM for the last four fiscal year 2069/70, 2070/71, 2071/72 and 2072/73. PLIC had earned Rs 10.74 crore in the third quarter of the fiscal year 2073/74. After the issuance of this bonus share, its paid up capital will reach Rs 61.01 crore from existing Rs 48.81 crore. As per Insurance Board’s directive for all life insurance companies to increase their paid up capital to a minimum of Rs 2 arba by the end of FY 2074/75, PLIC should further increase its capital by around Rs 1.38 arba.