Citizen Life Calls AGM to Approve Dividend; Book Closure Date Announced
14 December 2025, Kathmandu
Citizen Life Insurance Company Limited has formally announced the date and agenda for its 9th Annual General Meeting (AGM), which is a key event for the company’s shareholders and marks the culmination of the financial reporting cycle for the last fiscal year.
Citizen Life Calls AGM
The decision to convene the AGM was reached during the company’s 126th board meeting, held on December 12, 2025.
The AGM is scheduled to take place on Friday, January 2, 2026. The meeting will be held at Amrapali Banquet in Bhatbhateni, Naxal, Kathmandu, with proceedings set to begin at 9:30 AM.
Dividend Proposal and Financial Impact
A primary and highly anticipated agenda item for the upcoming AGM is the endorsement of the dividend proposed by the board of directors, which reflects the company’s financial performance during the fiscal year 2025/26.
Proposed Dividend Rate: Citizen Life Insurance has proposed distributing a 20 percent cash dividend to its shareholders. This dividend rate is inclusive of the necessary tax component.
Dividend Source: The proposed dividend will be paid out from the distributable profit earned by the company during the past fiscal year, 2025/26.
Total Distribution: Based on the company’s current paid-up capital of 5 billion rupees (NPR 5,000,000,000), the total cash dividend amount proposed for distribution stands at 1 billion rupees.
Approval Status: It is important to note that this dividend is currently a proposal and will be distributed to shareholders only after it receives final endorsement from the upcoming AGM and the necessary approval from the Nepal Insurance Authority.
Key Highlights of the AGM Agenda
The 9th AGM will address several mandatory and strategic items required for the company’s governance and regulatory compliance, as mandated by the relevant acts and insurance regulations.
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Financial and Performance Review: Shareholders will engage in the discussion and approval of the Chairman’s statement and the comprehensive Board of Directors’ annual report for the fiscal year 2025/26. This report details the company’s operational performance, market share, and strategic initiatives.
Financial Statement Approval: The meeting will formally approve the audited financial statements, which include the balance sheet, the profit and loss account, the statement of changes in equity, and the cash flow statement for the fiscal year 2025/26. The formal approval of these documents is a legal prerequisite for finalizing the dividend distribution.
Auditor Appointment: A critical governance item involves the appointment of an external auditor for the next fiscal year, 2025/26, in accordance with Section 111 of the Companies Act, 2063. The AGM will also be responsible for determining the auditor’s remuneration.
Regulatory Appointments: The assembly will receive information regarding the appointment of an independent director, a requirement enforced by the Insurance Act, 2079, to ensure better corporate governance and neutrality on the board.
Administrative Approvals: The agenda also includes approving benefits for the members of the board of directors, ratifying any donations made by the company, and approving the expenses incurred under the company’s corporate social responsibility (CSR) obligations.
Book Closure Date for Eligibility
For the purpose of finalizing the list of eligible shareholders for both the dividend distribution and attendance at the AGM, the company has announced a specific book closure date.
Book Closure Date: The company will officially close its books on December 22, 2025.
Eligibility Criteria: Consequently, only those shareholders who maintain ownership of their shares until the end of trading on Poush 7, 2082, will be deemed eligible. This means that if an investor sells their shares on December 21, 2025 or later, they will still receive the dividend and be allowed to attend the meeting. Conversely, those who purchase shares on or after Poush 8 will not be eligible for this specific dividend or to vote at the AGM.
This AGM notice sets the stage for a significant capital event for Citizen Life Insurance, providing shareholders with a substantial cash return on their investment and affirming the company’s solid financial footing in the life insurance sector.
For More: Citizen Life Calls AGM
