SuryaJyoti Life Insurance Company Decides Not To Distribute Dividend for the Fiscal Year 2078/79
Thu, Mar 16, 2023 11:23 AM on Latest, Dividend, Bonus & Rights, NEPSE News,
Even if there is a qualified profit, Surya Life Insurance Company Limited and Jyoti Life Insurance Company Limited is not distributing profits of Fiscal Year 2078/79 and rather the profit will be kept as a reserve fund rather than paid out as dividends to shareholders.
The decision of not distributing dividends by Surya Life Insurance Company Limited and Jyoti Life Insurance Company Limited was decided from the 343rd meeting of the Board of Directors held on Chaitra 1.
Surya Life and Jyoti Life merged in the name of "SuryaJyoti Life Insurance Company Limited" at a share swap ratio of 1:0.8245. The integrated transaction of SuryaJyoti Life Insurance started from Poush 7, 2079.
Since the Insurance Board issued a directive instructing the insurance companies to increase their paid-up capital, insurance companies started signing merger agreements with each other. The board has directed that the life insurance companies should increase it to Rs 5 Arba by Chaitra 2079. Likewise, the joint paid up capital of SuryaJyoti Life Insurance Company Limited after the merger is Rs. 4.54 Arba.