Sagarmatha Insurance declares 22% stock dividend; Paid up to reach Rs 53.82 crore

Sagarmatha Insurance Company Limited (SIC) has decided to distribute 22 percent bonus share to its shareholders. As per the notice published in NEPSE today, the company’s 226^th BOD meeting held on Mangsir 3, 2073 has proposed 22 percent bonus share and 1.15 percent cash dividend for tax purpose to its shareholders from the net profit it earned in the last fiscal year 2072/73. The decision is subjected to approval from Insurance Board and the company’s upcoming Annual General Meeting (AGM). SIC had distributed 23.75% bonus share to its shareholders from the profit it earned in the fiscal year 2071/72. Sagarmatha Insurance had earned net profit of Rs 3.09 crore in the first quarter of the current fiscal year 2073/74 as per unaudited report. It’s paid up capital remains at Rs 44.12 crore. After distributing 22 percent bonus it’s paid up capital will reach to Rs.  53.82 crore.