26th February 2025, Kathmandu
Shikhar Insurance Company Limited successfully conducted its 20th Annual General Meeting (AGM) at its central office in Thapathali, Kathmandu. The meeting took place under the leadership of Chairman Gaurab Agrawal.
Shikhar Insurance 20th AGM
The AGM approved a 10.5263% total dividend for the fiscal year 2080/81, based on the company’s paid-up capital of NPR 2.65 billion. The approved dividend includes:
10% Bonus Shares worth NPR 265.49 million
0.5263% Cash Dividend (for tax purposes) amounting to NPR 13.97 million
Financial Reports and Auditor Appointment
Shareholders approved the company’s annual financial report and auditor’s report for the fiscal year 2023/24. The meeting also decided on the appointment of auditors for the next fiscal year (2024/25) and set their remuneration.
Special Resolutions Passed
The AGM passed key resolutions, including:
Amendments to the company’s Articles of Association and Memorandum
Authorization to the Board of Directors (BoD) for necessary modifications
Approval to change the company’s registered office address
Authorization to approve and manage required expenses
CEO’s Commitment to Higher Returns
CEO Dip Prakash Pandey addressed shareholders and expressed the company’s dedication to delivering higher returns. He assured that Shikhar Insurance is focused on distributing double-digit dividends in the coming years.
Book Closure for AGM and Dividend Eligibility
For AGM participation and dividend distribution, the company closed its book on 12 February. Only shareholders who held shares until 11 February were eligible to attend the meeting and receive dividends.
Future Outlook
Shikhar Insurance is dedicated to enhancing its financial performance, corporate governance, and overall service quality to maintain its strong position in the insurance sector. The company has outlined strategic growth plans aimed at increasing operational efficiency, expanding its market reach, and introducing innovative insurance solutions. By prioritizing customer satisfaction and technological advancements, Shikhar Insurance remains committed to maximizing shareholder value while ensuring sustainable and long-term growth in the industry.
For more: Shikhar Insurance 20th AGM