November 26, 2023 | Investopaper
Nepal Insurance Company Limited (NICL) has announced the dividend to the shareholders. The dividend declaration is from the fiscal year 2079/80.
The non-life insurance company has proposed a 10.5263 percent dividend. The total dividend includes a 10 percent bonus share and a 0.5263 percent cash dividend (for tax purposes). The bonus share is worth Rs 14.94 crores while the cash dividend amounts to Rs 78.67 lakhs.
From the previous fiscal year 2078/79, Nepal Insurance provided an 8.4211 percent dividend, including an 8 percent bonus share. Similarly, from the FY 2077/78, the insurance had distributed an 11.5789 percent dividend, including an 11 percent bonus share.
Likewise from the fiscal year 2076/77, NICL had distributed a 10 percent dividend to the shareholders, including an 8 percent bonus share and a 2 percent cash dividend. Similarly, from the fiscal year 2075/76, NICL had provided a 7.89 percent dividend, including a 5 percent bonus share and 2.89 percent cash dividend.
The dividend is subject to approval from Nepal Insurance Board Authority and the upcoming AGM of the insurance.
As of Ashad’s end 2080 BS, Nepal Insurance has a paid-up capital of Rs. 149.47 crores. After the inclusion of the proposed bonus share, the capital will increase to Rs. 164.41 crores.