Sanima Reliance Life Insurance AGM Approves 8% Cash Dividend & 1.2489% Bonus Shares
21st March 2025, Kathmandu
Sanima Reliance Life Insurance successfully conducted its 8th Annual General Meeting (AGM) today. The meeting took place at Anmol Banquet in New Baneshwor, Kathmandu, starting at 11:00 AM. Shareholders approved key proposals, including a 1.2489% bonus share and an 8% cash dividend (including tax) on the paid-up capital.
Sanima Reliance Life Insurance AGM
The bonus share distribution will increase the company’s capital. This requires amendments to its Memorandum and Articles of Association (MOA) and bylaws. The AGM also authorized the Board of Directors to manage expenses and make necessary adjustments.
The company closed its books on Falgun 26 for dividend distribution. Only shareholders registered by Falgun 25 will receive the dividend.
Key Decisions:
Dividend and Bonus Shares:
Shareholders approved a 1.2489% bonus share and an 8% cash dividend. After the bonus share distribution, the company’s issued and paid-up capital will reach Rs. 5.01 billion.
Capital Increase and Amendments:
The AGM approved maintaining the authorized capital at Rs. 5.02 billion. Amendments to the MOA and bylaws were also passed to reflect the increased capital.
Office Relocation:
The company will relocate its registered office from New Baneshwor to Naxal, Kathmandu. The AGM approved this move and related amendments to the MOA and bylaws.
Auditor Appointment:
The AGM approved the financial statements and auditor’s report for the fiscal year 2023/24. It also appointed auditors for the current fiscal year (2024/25) and set their remuneration.
Board Authority:
The Board of Directors received full authority to implement any regulatory changes related to the AGM resolutions.
Dividend Eligibility:
Only shareholders registered by 9 March will receive the dividend and bonus shares. The company completed the book closure process for this purpose.
Conclusion:
The 8th AGM marked a significant step for Sanima Reliance Life Insurance. The approval of dividends and bonus shares highlights the company’s focus on shareholder value. The capital increase, office relocation, and regulatory compliance reflect its growth and strategic planning. The company continues to strengthen its position in the insurance sector.
For more: Sanima Reliance Life Insurance AGM
