Citizen Life Insurance Announces 28.4% Dividend (26.98% Bonus Shares & 1.42% Cash) for FY 2023/24
21st February 2025, Kathmandu
Citizen Life Insurance Limited has revealed its dividend plan for the fiscal year 2023/24. The decision came during a board meeting held on February 20, where the company outlined its plans to distribute dividends to shareholders from its profits.
Citizen Life Insurance 28.4% Dividend
Dividend Breakdown:
Citizen Life Insurance has proposed a total dividend of 28.4%, comprising both bonus shares and cash dividends. The company plans to issue 26.98% bonus shares based on its current paid-up capital. Additionally, 1.42% of the total paid-up capital will be distributed as a cash dividend, which will be allocated for tax purposes.
Dividend Approval Process:
Before the dividend distribution takes place, the proposed dividend plan requires approval from the Nepal Insurance Authority. Following this, the Annual General Meeting (AGM) will review and finalize the distribution of dividends. Once ratified by the AGM, the dividends will be paid out to eligible shareholders.
Impact on Shareholders:
This announcement is a significant move by Citizen Life Insurance, as it aims to reward its shareholders for their continued trust and investment in the company. The bonus shares and cash dividends offer substantial returns for the company’s investors, contributing to a positive sentiment towards Citizen Life Insurance.
The dividend distribution marks the company’s stable financial performance in the fiscal year, reflecting its ability to generate consistent profits. It also demonstrates the company’s commitment to maintaining shareholder value while continuing to expand its operations within Nepal’s competitive insurance sector.
Future Outlook:
The dividend payout is expected to attract more investors and boost the company’s profile in the market. With the approval of the dividend plan by the Nepal Insurance Authority and the AGM, Citizen Life Insurance will move forward with the distribution of the dividends to its shareholders.
This announcement highlights the company’s solid financial health and its long-term growth strategy. It reinforces Citizen Life Insurance’s position as a reliable insurer and a strong player in Nepal’s growing insurance industry.
Key Takeaways:
Citizen Life Insurance has announced a 28.4% total dividend for FY 2023/24.
The dividend includes 26.98% in bonus shares and 1.42% as a cash dividend.
The dividend distribution is contingent upon approval from the Nepal Insurance Authority and ratification at the AGM.
The company aims to continue creating value for its shareholders and expanding its market presence.
Overall, this move showcases Citizen Life Insurance’s continued efforts to enhance its financial stability and offer attractive returns to its investors.
For more: Citizen Life Insurance 28.4% Dividend
