NLG Insurance 19th AGM Kathmandu: 2.63% Dividend (Bonus Share + Cash) Approved for FY 2080/81
12th June 2025, Kathmandu
NLG Insurance Company Limited recently held its 19th Annual General Meeting (AGM) at Amrapali Banquet in Baluwatar, Kathmandu. The meeting took place under the leadership of Chairman Bimal Prasad Wagle. Shareholders gathered to review the company’s performance and make key decisions for the upcoming year.
NLG Insurance 19th AGM Kathmandu
Dividend Proposal Passed
The AGM approved a dividend proposal from the previous fiscal year’s profit. Shareholders agreed to distribute a total dividend of 2.63%. This includes a 2.50% bonus share and a cash dividend of 0.131579%, including tax. The paid-up capital of the company stands at NPR 250,265,798.
The bonus shares amount to NPR 62,566,450, while the cash dividend totals NPR 3,292,971. Both forms of dividend aim to reward shareholders for their trust and investment. The company followed all legal and regulatory requirements in proposing this dividend.
Financial Reports and Auditor Appointment
Alongside the dividend approval, the shareholders ratified the annual report and financial statements for the fiscal year 2080/81 (2023/24). They also accepted the auditor’s report, which confirmed the company’s financial health.
Furthermore, the AGM appointed the auditor for the current fiscal year. The meeting decided on the auditor’s remuneration, ensuring transparency and fairness. These steps reflect the company’s commitment to sound financial governance.
Authorization for Amendments and Expense Approval
The shareholders gave the Board of Directors authority to amend the company’s Memorandum and Articles of Association as needed. This gives the board flexibility to adapt to future changes in law or business needs without convening another general meeting.
Additionally, the meeting approved expenses incurred during the last fiscal year. It also passed proposals related to directors’ remuneration for attending board meetings. These approvals ensure smooth operations and proper governance.
Chairman’s Address and Shareholder Interaction
Chairman Bimal Prasad Wagle addressed the meeting, answering all shareholder questions. He highlighted the company’s steady progress and growth in a competitive market. Wagle assured shareholders that the company remains dedicated to creating value and distributing fair dividends.
He emphasized the company’s focus on long-term growth. Wagle also committed to maintaining transparency and good governance as key priorities. His address reassured investors of the company’s stable future.
Positive Shareholder Feedback
Shareholders praised NLG Insurance’s approach to capital management. The company chose to increase capital through rights issues rather than mergers. This decision aligns with the Insurance Board of Nepal’s directive on paid-up capital requirements.
Shareholders appreciated the clear and shareholder-friendly strategy. They expressed confidence in the company’s leadership and policies. The AGM atmosphere reflected optimism about NLG Insurance’s direction.
Dividend Distribution and Book Closure
The company announced that the book closure date for dividend entitlement was set for Jestha 22, 2082 (June 5, 2025). Shareholders registered by Jestha 21 (June 4, 2025) will receive the approved dividends.
This timely notification ensures all eligible shareholders can claim their benefits without confusion. The company’s adherence to deadlines shows its commitment to shareholder rights.
Conclusion
NLG Insurance’s 19th AGM marked a significant step in its growth journey. The meeting successfully passed important resolutions, including dividend approval, financial reports, and governance-related decisions.
Chairman Wagle’s engagement with shareholders strengthened trust. The company’s clear focus on compliance, transparency, and shareholder value sets a positive example in Nepal’s insurance sector.
Overall, NLG Insurance continues to grow steadily while upholding strong governance standards. Shareholders and stakeholders alike look forward to the company’s bright future and sustained success.
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