Nepal Life Insurance calls AGM on 28 Chaitra; to sanction 70% dividend and dilute promoter holding

As per the noticed published in Nepse, 264th BoD meeting of Nepal Life Insurance Company has decided to conduct 18th AGM on  28th Chaitra, 2074. The shareholders book will be closed from 14th Chaitra, 2074. 

The company will sanction 42% stock bonus (i.e. 13.05 lakh units) and 28.53% cash dividend worth Rs. 88.32 crore. Shareholders having the share at the time of bookclose will be eligible for dividend and to attend the AGM. 

The AGM also has an agenda to dilute the promoters holding to 60% from existing 70%. 

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 1725 in the stock exchange.