Nepal Life Insurance (NLIC) Calls AGM to Endorse 14.7368% Dividend, Elect BOD, and Discuss Conversion of Promoter Shares
Sun, Mar 13, 2022 10:26 AM on Latest, Dividend, Bonus & Rights, AGM/Special AGM, Book Closure,
Nepal Life Insurance Company Limited (NLIC) has called its 21st AGM on 21st Chaitra, 2078. The meeting will be held in Hotel Bishwa, Birgunj, starting at 9 am that day.
Among other agendas, the AGM will endorse a 14.7368% dividend for the fiscal year 2076/77. The 332nd meeting of the board of directors held on Magh 21 decided to distribute the dividend on the paid-up capital of Rs. 7,19,99,70,661. 14% bonus shares and 0.7368% cash dividend (for tax) have been proposed.
Furthermore, the AGM will also elect 4 board members from the promoters and 3 from the public shareholders. There is also an agenda to discuss the conversion of a portion of promoter shares to ordinary shares in order to maintain a shareholding ratio of 51: 49. As of now, this ratio is 60: 40.
Chaitra 07 is the book closure date. Thus, shareholders maintained before that day are entitled to the dividend payout and can also attend this AGM.
As of writing, NLIC has an LTP of Rs. 1,210.60.
