Shikhar Insurance likely to give 20% Bonus this year; FPO investors may get dividend this year

Shikhar Insurance is going to float its FPO (Further Public Offering) by the third week of Mangsir. The insurance company will be floating 5,10,988 kittas Shares to the general public. As per the sources privy with the matter, the BoD meeting of Shikhar Insurance is expected to happen sometime this week. The board is likely to approve the dividend at least the same as last year. Last year Shikhar insurance distributed 20% bonus share and 1.05% cash dividend from the profit of fiscal year 2069/70. The FPO investors are also likely to get the dividend from the profit of last fiscal year. However, the final decision will only come on this matter after the BoD meeting scheduled this week. At present Promoter and ordinary shareholders share structure in the insurance company stands at 80:20 ratios. After the FPO promoter and ordinary shareholders share structure will be at 70:30 ratio. After issuing 20% bonus share from the net profit earned in the fiscal year 2069/70, the company’s paid up capital has reached to Rs 35.76 crore.