Sagarmatha Insurance proposes 86% bonus shares; Paid up capital to Rs 1 arba after adjustment

Fri, May 10, 2019 11:42 AM on Dividend, Bonus & Rights, Latest, Stock Market,

Sagarmatha Insurance Company (SIC) held the 271st Board Meeting on Baisakh 26, 2076. According to the meeting, the board has proposed 86% (Rs 46 crore 29 lakh 31 thousand 034) bonus shares from the profit of FY 2074/75. The bonus is subject to approval from Insurance Board(Beema Samiti) and the upcoming Annual General Meeting (AGM) of the company.

The current paid-up capital of SIC is Rs 53 crore 82 lakh 91 thousand 900. After the adjustment of bonus shares, the paid-up capital will reach Rs. 1,00,12,22,934 reaching the minimum paid-up capital requirement of Rs 1 arba.