Rastriya Beema Company proposes whopping 120% bonus shares; Paid up capital to reach Rs 58.66 crore

Rastriya Beema Company Limited (RBCL) has proposed dividend to its shareholders. The board meeting of the insurance company held on Falgun 10, 2074 has proposed 120% bonus shares and 5.26% cash dividend for tax purpose  to its shareholders from the net profit of 6 years, i.e. from FY 2063/64 to FY 2068/69. The decision is subjected to the approval from the upcoming AGM and concerned authority. RBCL has already completed audit from FY 2069/70 to FY 2071/72, and also plans to complete audit of FY 2072/73 till the end of ongoing FY 2074/75 and will hold AGM accordingly after that. Its current paid up capital stands at Rs 26.66 crore which will hike to Rs 58.66 crore after distribution of 120% bonus shares. To meet the capital requirement of Rs 1 arba till Ashad 2075 as directed by the Insurance Board of Nepal, it should hike its capital by Rs 41.34 crore (Around 70%), which the company plans to hike by distributing bonus shares and issuing FPO. It had earned net profit of Rs 37.25 crore till the end of second quarter of the FY 2074/75. Its LTD stood at Rs 13,421 as of last trading day. Notice