Union Life Insurance and Sagarmatha Insurance Revises Dividend for FY 2077/78 and FY 2078/79 Respectively

Union Life Insurance Company Limited (ULI) has revised its dividend proposal for FY 2077/78.

The company had previously proposed an 8.65 percent bonus dividend and a 0.4553 percent cash dividend (for tax purposes). The paid-up capital of the company stands at Rs. 2.15 Arba.

Issuing a new notice on the exchange's website, the company has unveiled a different dividend proposal. Now, bonus shares have been revised to 8.97% totaling Rs. 19,28,55,000 while there is no cash dividend to be endorsed.

Similarly, Sagarmatha Insurance Company Limited (SIC) has also amended its dividend proposal.

Earlier, the company had proposed a 13.1579% dividend for the fiscal year 2078/79. As per the notice published in NEPSE, the insurance company had proposed 12.50% bonus shares and 0.6579% cash dividends from the paid-up capital of Rs. 1.33 Arba

However, the decision taken by the 325th BOD meeting of the company was subject to approval from Nepal Insurance Authority. The Insurance Authority has now ordered the company to revise its dividend proposal. Thus, the company revised its proposal to only distribute 12.40% bonus shares and 0.6526% cash dividend on the paid-up capital of Rs. 1.33 Arba.