Sagarmatha Insurance AGM today to endorse 42.1% dividend; elect 8 directors

ShareSansar, June 19:

Sagarmatha Insurance Company Limited is holding its Annual General Meeting today to formally endorse 42.1 percent dividend - 20 percent bonus shares and 22.1 percent cash- to its shareholders from the net profit it earned in the last fiscal year 2069/70.

The dividend was proposed by the 181st BOD meeting of the insurance company back in January after the company posted a huge net profit of Rs 17.79 crore in the last fiscal year.

The 17th AGM of the non-life insurer being held at the Trade Tower of Thapathali will also elect six directors from among the promoters and two from group c ordinary shareholders, according to the AGM notice published by the company today.

The company had announced the book closure from June 5 for the AGM, which means that only those shareholders who already hold the scrip of the company till June 4 will be entitled to the dividend.