28.40% Dividend Distribution of Citizen Life Insurance Canceled
Tue, May 7, 2024 10:05 AM on Latest, Dividend, Bonus & Rights, NEPSE News,
The dividend proposal of Citizen Life Insurance Company Limited (CLI) has been canceled by Nepal Insurance Authority.
The 106th meeting of the Board of Directors held on Baishakh 23, resolved to distribute dividends from the share premium account accrued by the company. 26.98412698% bonus shares worth Rs. 1.06 Arba and 1.42022% cash dividend worth Rs 5.59 Crores were proposed.
The 107th meeting of the board of directors held on Baishakh 25 has decided to cancel the proposed dividend of CLI. According to a notice from the Nepal Stock Exchange (NEPSE), the aforementioned dividend proposal, which required approval from the Nepal Insurance Authority, was not accepted and has consequently been canceled.
