Shikhar Insurance Company Limited: No Dividend for FY 2077/78

Shikar Insurance Company Limited (SICL) is not distributing the dividend for FY 2077/78.

According to the 272nd board of directors meeting held on Jestha 17, 2079 has clarified that the company has enough reserve until FY 2077/2078 to meet the requirements on increasing their capital to Rs. 2.50 Arba as mandated by Beema Samiti (Insurance Board). Earlier, after the allotment of 30% right shares, the company's paid-up capital has exceeded to Rs. 2.28 Arba.

In a board meeting, the company decided to analyze and decide whether to merge or acquire other companies in accordance with the company's other business plans. As a result, the company has pledged that the paid-up capital will be increased to Rs. 2.5 Arba within the time period set by the Insurance Board. The corporation, on the other hand, has opted not to distribute F.Y 2077/78 dividends to its shareholders.

The company had distributed 29.231% dividend to the shareholders for the FY 2076/77.