Nepal Life Insurance announces bumper dividend of 70%; Consists 42% bonus shares and cash

Nepal Life Insurance Company has proposed a massive dividend of 70.53% out of the profit from 2073/74. The dividend consists of 42% bonus shares and 28.53% cash dividend. 

The BoD meeting held on 13th Falgun 2074 has proposed the stated dividend. The company will distribute bonus share worth Rs 1.30 arba and cash valuing Rs 88.32 crores. The decision is however subject to approval from Insurance board and Company's AGM. 

NLIC issued 30,96,429 units shares at a price of Rs 1425 per share last year. The company collected a premium of Rs 4.10 arba from that FPO. NLIC has a reserve of Rs 5.02 arba and a paid-up capital of Rs 3.09 arba as of 2nd quarter of 2074/75. 

NLIC was last traded at Rs 1775 in the stock exchange.