IME Life Insurance (ILI) Proposes 34.5% Dividend for FY 2079/80; How Much in Bonus Shares and Cash?

IME Life Insurance Company Limited (ILI) proposed a 34.5% dividend for the fiscal year 2079/80.

The 192nd Board of Directors meeting on Baisakh 19 decided to distribute the dividend on the paid-up capital of Rs. 4 Arba. 25% bonus shares and 9.5% cash dividend (tax purposes) have been proposed. Thus, the bonus shares are worth Rs. 1 Arba, and the cash dividend (including for tax purposes on bonus shares) is worth Rs. 38 Crores.

The dividend will be distributed only after approval by the Nepal Insurance Authority and endorsement by the company's upcoming AGM.

ILI has an LTP of Rs. 573.