Citizen Life Insurance Cancels Proposed Dividend from FY 2079/80
May 7, 2024 | Investopaper
Citizen Life Insurance Company Limited (CLI) has cancelled the dividend to the shareholders the fiscal year 2079/80.
Earlier, CLI had proposed a 28.4043 percent dividend, including a 26.9841 percent bonus share and a 1.4202 percent cash dividend (for tax purposes). However, as per the direction of Nepal Insurance Authority, the company has decided not to distribute any dividend to the shareholders.
As of Ashad’s end 2080 BS, Citizen Life Insurance has a paid-up capital of Rs 3.93 Arba.
From the previous fiscal year, the life insurance company had distributed a a 5.2632 percent dividend, including a 5 percent bonus share and a 0.2632 percent cash dividend (for tax purposes).
