Nepal Insurance 73rd AGM: 15% Bonus Shares & 0.79% Cash Dividend for Shareholders
1st April 2025, Kathmandu
Nepal Insurance Company Ltd. successfully held its 76th Annual General Meeting (AGM) at the Nepal Pragya Pratishthan in Kamaladi, Kathmandu. Several key decisions were made during the meeting that will have a positive impact on the company’s financial structure and its shareholders.
Nepal Insurance 73rd AGM
Bonus Shares and Cash Dividend Declared
The AGM passed a proposal to issue 15% bonus shares and distribute a 0.79% cash dividend, including taxes, to the company’s shareholders. This decision will directly benefit shareholders by increasing their stake in the company and providing a cash return on their investments.
Capital Increase and Amendments to Company Bylaws
The company also approved the issuance of 40% rights shares, which may be revised in the future. This move aims to raise the company’s issued and paid-up capital. As a result, the company’s articles of association will need to be updated to reflect this change. The board of directors has been authorized to amend the necessary provisions of the company’s bylaws in line with the new capital structure.
Approval of Financial Reports and Auditor Appointment
During the AGM, the financial statements for the previous fiscal year were approved. This confirms the accuracy of the company’s financial records. Additionally, the meeting also appointed auditors for the current fiscal year and determined their fees. These steps ensure proper oversight of the company’s financial activities.
The AGM also approved the expenses incurred under the company’s Corporate Social Responsibility (CSR) initiatives. This shows the company’s commitment to contributing to social causes while maintaining responsible business practices.
Book Closure for Dividend Distribution
For the dividend distribution, the company had already closed its books on Chait 7. This means that only those shareholders who held shares as of Chait 6 will receive the approved dividends. The book closure date ensures a clear and fair process for distributing the benefits to eligible shareholders.
Positive Outlook for the Future
The decisions made during the AGM reflect Nepal Insurance Company Ltd.’s strong financial position and its focus on enhancing shareholder value. With the approval of bonus shares, a cash dividend, and a capital increase, the company is well-positioned for further growth. These steps demonstrate the company’s commitment to rewarding its shareholders and strengthening its financial foundation.
In conclusion, the 76th AGM of Nepal Insurance Company Ltd. marks a significant step in the company’s efforts to increase its capital base and ensure long-term stability.
Shareholders will benefit from the approved bonus shares and cash dividend, while the company’s future growth prospects appear bright with the planned capital increase. This meeting underscores Nepal Insurance Company Ltd.’s dedication to both its investors and its overall growth in the competitive insurance market.
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