Sagarmatha Lumbini Insurance 28th AGM: 15% Cash Dividend Approved for FY 2080/81
12th May 2025, Kathmandu
Sagarmatha Lumbini Insurance Company Limited successfully held its 28th Annual General Meeting (AGM) in Kathmandu. The meeting took place at Rani Mahal Banquet in Gyaneshwar, with the company’s Chairman, Mr. Manohar Das Mul, presiding over the event.
Sagarmatha Lumbini 28th AGM
Key Decisions and Approvals
The AGM approved a 15% cash dividend for the fiscal year 2080/81 (2023/24), based on the company’s paid-up capital. This means shareholders will receive NPR 39,33,95,730 as cash dividends. The decision reflects the company’s strong financial performance and commitment to rewarding its investors.
In addition, the meeting endorsed several important proposals. One of them was the revision of allowances and benefits for the Board and various committees. These adjustments were aimed at ensuring fair compensation for the company’s leadership team.
Corporate Social Responsibility Initiatives
The AGM also discussed and approved payments made by the company under its corporate social responsibility (CSR) programs. These payments were directed to various organizations and associations, reflecting the company’s dedication to contributing to society.
Changes to Company Regulations
Another significant decision made during the meeting was granting the Board of Directors the authority to amend the company’s Articles of Association and By-laws. This decision will allow the company to make necessary adjustments in line with guidelines from relevant regulatory bodies.
Financial Report Approval
The shareholders approved the company’s financial report for the fiscal year 2080/81. The financial statement demonstrated strong performance, as the company saw an increase in its earnings and profit. Shareholders also approved the appointment of auditors for the current fiscal year, along with the determination of their remuneration.
Financial Performance
Sagarmatha Lumbini Insurance has shown impressive growth in the past year. For fiscal year 2080/81, the company generated NPR 4.79 billion in insurance premiums, a 4% increase from the previous year. This growth indicates the company’s effective market strategies and its ability to expand its customer base.
Moreover, the company’s profit surged by 31% compared to the previous fiscal year. This substantial growth demonstrates improved operational efficiency and successful financial management.
Dividend Distribution
As part of the AGM decisions, the 15% cash dividend was proposed for distribution to shareholders. This is based on the company’s paid-up capital, and it is a clear indication of the company’s profitability and robust business operations. The company aims to ensure that its shareholders benefit from its growth and success.
The total dividend amount of NPR 39,33,95,730 will be shared among the shareholders. This distribution reflects the company’s strong commitment to sharing its financial success with its investors.
Strategic Outlook for the Future
The AGM also focused on strengthening the company’s internal governance and enhancing its operational strategies. Shareholders were briefed on the company’s ongoing initiatives and plans, which aim to further increase its market share and profitability.
The company plans to continue its efforts to improve its financial services and expand its reach in the Nepalese insurance market. By focusing on customer satisfaction and operational efficiency, Sagarmatha Lumbini Insurance aims to strengthen its position as a leading insurance provider in the country.
Commitment to Corporate Responsibility
Sagarmatha Lumbini Insurance has always been committed to its social responsibility initiatives. The company has made significant contributions to various social causes, supporting associations and institutions that contribute to Nepal’s development. These CSR activities are an integral part of the company’s operations, and the AGM highlighted the importance of these efforts.
Conclusion
The 28th AGM of Sagarmatha Lumbini Insurance was a significant event that showcased the company’s financial growth and its ongoing commitment to shareholders, employees, and society. The approved 15% cash dividend reflects the company’s strong performance and its dedication to sharing its success with investors.
Additionally, the meeting’s discussions and approvals regarding corporate governance, CSR initiatives, and company regulations underline the company’s proactive approach to building a sustainable and responsible business model.
Sagarmatha Lumbini Insurance’s financial results for the year, along with the approval of important proposals, set the stage for a promising future. The company is focused on expanding its operations, enhancing its financial services, and ensuring long-term growth. Through these efforts, Sagarmatha Lumbini Insurance is poised to remain a leading player in Nepal’s competitive insurance industry.
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