United Insurance Company (UIC): No Dividend for FY 2075/76

The 348th meeting of the board of directors of United Insurance Company (Nepal) Limited (UIC) was held on Ashwin 22 at 3:30 pm.

The meeting has decided to submit financial reports of the company to Beema Samiti for approval. The reports are prepared according to the standards set by Beema Samiti for Non-Life Insurance companies and also in accordance with the Nepal Financial Reporting Standards (NFRSs).

More importantly, the board of directors has decided to not distribute any dividend to the company's shareholders for the fiscal year 2075/76. The company did not distribute any dividend for the FY 2073/74 and FY 2074/75 either. It had distributed a 10% bonus shares for the FY 2072/73. 

United Insurance Company (Nepal) Limited posted a net profit of Rs 3.41 crores in the 4th quarter of the fiscal year 2076/77.