Shikhar Insurance announces 29% bonus share; Paid up capital to reach Rs 1.05 arba

Shikhar Insurance Company Limited (SICL) has decided to issue 29% bonus share to its shareholders. As per the notice published in NEPSE, the BOD meeting of the company held on Kartik 13, 2074 has proposed 29% bonus share and 1.52% cash dividend for tax purpose to its shareholders. The decision is subjected to approval from Insurance Board and the company’s upcoming Annual General Meeting (AGM). Earlier, SICL had distributed 60 % bonus share to its shareholders from the profit it made in the FY 2072/73. SICL had earned Rs 37.58 crore in the fourth quarter of the fiscal year 2073/74. After the issuance of this bonus share, its paid up capital will reach Rs 1.05 crore from existing Rs 81.76 crore. As per Insurance Board’s directive for all non-life insurance companies to increase their paid up capital to a minimum of Rs 1 arba by the end of FY 2074/75, SICL will meet the capital requirement by issuing this bonus share.