5th May 2025, Kathmandu
Neco Insurance Limited is set to organize its Annual General Meeting (AGM) on Jestha 9, 2082 (May 23, 2025). The meeting will begin at 11 AM at Lissara Reception, Naxal, Kathmandu. The company shared this notice in a recent announcement.
Neco Insurance AGM Kathmandu
7% Bonus Shares and Cash Dividend on the Table
At the AGM, Neco Insurance plans to propose a 7% bonus share distribution to its shareholders. Along with that, the company will also seek approval for a 0.3684% cash dividend. This cash dividend is mainly for tax purposes.
Shareholders will vote on these proposals during the meeting. If approved, both distributions will apply to shareholders who are listed in the company’s records as of the book closure date.
Financial Reports to Be Discussed
The company will also present several key reports during the AGM. These include:
The Annual Report for the fiscal year 2080/81
A review of the company’s Profit and Loss Statement
Details of the cash flow and other financial summaries
These documents will help shareholders understand the company’s performance in the last fiscal year. The AGM will serve as a platform for stakeholders to discuss progress and plans.
Appointment of Auditor Also on Agenda
Another important agenda item is the appointment of an external auditor for the next fiscal year, 2081/82. The board will also propose the auditor’s remuneration. This move ensures transparency and financial accountability going forward.
Book Closure Set for Baisakh 30
To identify eligible shareholders for the dividend and AGM participation, Neco Insurance has declared a book closure on Baisakh 30, 2082 (May 13, 2025).
This means investors must own Neco shares before this date to attend the AGM or receive the proposed dividend. Only shareholders listed in the company’s records as of the closure date will be eligible.
Practical Deadline Is Earlier Due to Holiday
There is one important detail for shareholders to consider. Baisakh 29 (May 12) falls on Buddha Jayanti, a public holiday. Because of this, stock market activities will remain closed that day.
As a result, investors must purchase Neco shares by Baisakh 28 (May 11) to qualify. Buying on or after Baisakh 29 will not make an investor eligible for the bonus share or to attend the AGM.
Key Takeaways for Investors
AGM Date: Jestha 9, 2082 (May 23, 2025)
Time and Venue: 11 AM at Lissara Reception, Naxal
Bonus Share Proposal: 7%
Cash Dividend Proposal: 0.3684%
Book Closure: Baisakh 30, 2082
Last Buying Date (Practical): Baisakh 28, 2082
Investors are advised to plan accordingly. Missing the deadline could mean missing both the dividend and the right to attend the AGM.
About Neco Insurance
Neco Insurance is one of Nepal’s established non-life insurance providers. The company offers various insurance services across the country. In recent years, it has focused on improving customer service, digital access, and financial growth.
The consistent dividend payments reflect Neco’s solid business performance and shareholder-friendly approach. With the upcoming AGM, the company aims to maintain that momentum and involve shareholders in shaping future goals.
Conclusion
Neco Insurance’s upcoming AGM is set to address important issues. From dividend approval to reviewing annual financials, the meeting carries high value for shareholders. The proposed 7% bonus shares and additional cash dividend are likely to attract positive interest from investors.
However, those interested must act on time. Due to the holiday on Baisakh 29, the practical deadline to buy shares is Baisakh 28. This ensures eligibility for both the dividend and AGM participation. The company urges all shareholders to take note and prepare ahead.
For more: Neco Insurance AGM Kathmandu