Sagarmatha Insurance 18th AGM will approve 15% stock dividend today

ShareSansar, July 15;

Sagarmatha Insurance Company Limited  (SIC) is going to hold its 18th Annual General Meeting (AGM) today (Ashad30, 2072).  The AGM will be held at Lainchaur Banquet, Kathmandu at 11:00 AM.

The main agenda of the AGM is to endorse 15% bonus share to shareholders and 0.79% cash dividend for tax purpose from the net profit it earned in the last fiscal year 2070/71.  

Also, the insurance company is likely to make decision on the conversion of 9% promoter shares to the ordinary shares. If the proposal of conversion the promoter shares to the ordinary shares is passed from the AGM, the promoter shares to ordinary shares ratio of the company will stand at 51:49 percent.

The others agendas at the meeting will be the financial highlights of 2070/71, appointment of auditor and to amend article of association.

Sagarmatha Insurance Company had posted net profit of Rs.15.05 crore in its third quarterly report of the fiscal year 2071/72.