SuryaJyoti Life Insurance Proposes 35% Dividend for FY 2079/80; How Much in Bonus Shares and Cash?

SuryaJyoti Life Insurance Company Limited (SJLIC) has proposed a 35% dividend for the fiscal year 2079/80.

The 371st board of directors meeting on Chaitra 20 decided to distribute the dividend on the paid-up capital of Rs. 4.54 Arba. 10.26% bonus shares and 24.74% cash dividend (tax purposes) have been proposed. Thus, the bonus shares are worth Rs. 46.63 crores i.e. 46,63,756.9746 units, and the cash dividend (including for tax purposes on bonus shares) is worth Rs. 1.12 Arba.

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

SJLIC closed at Rs. 485.30 yesterday.